Form 4: Credo Technology Group's Chief Technology Officer Sells Shares

Chi Fung Cheng, Chief Technology Officer of Credo Technology Group Holding Ltd, sold a portion of his holdings in two transactions on August 1, 2024, under a pre-arranged trading plan.

Summary

• Chi Fung Cheng, the Chief Technology Officer of Credo Technology Group Holding Ltd, executed two sales of ordinary shares on August 1, 2024.
• The first transaction involved the sale of 49,966 shares at a weighted average price of $26.7855, with prices ranging from $26.44 to $27.43.
• The second transaction involved the sale of 5,034 shares at a weighted average price of $27.533, with prices ranging from $27.44 to $27.75.
• These sales were conducted under a Rule 10b5-1 trading plan adopted by the Cheng Huang Family Trust on September 7, 2023.
• Following these transactions, Cheng directly owns 134,391 ordinary shares and indirectly owns 9,278,602 ordinary shares through the Cheng Huang Family Trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to insider trading. The sentiment is neutral as it simply reports transactions.

Industry Context

Insider sales are a common occurrence, and the use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on any specific non-public information. Investors often monitor insider transactions for signals about a company's prospects, but pre-planned sales are generally viewed as less informative.

Stakeholder Impact

• The share sales could have a minor impact on shareholder sentiment, although the existence of a 10b5-1 plan mitigates concerns about insider information.

Key Dates