Form 4: Datadog Director Dev Ittycheria Sells Shares Under 10b5-1 Trading Plan

Dev Ittycheria, a director at Datadog, Inc., executed multiple sales of Class A Common Stock on March 14, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On March 14, 2024, Dev Ittycheria, a director of Datadog, Inc., sold shares of Class A Common Stock.
• The sales were executed under a 10b5-1 trading plan adopted on December 12, 2023.
• The transactions involved multiple sales at varying weighted-average prices ranging from approximately $120.13 to $123.38 per share.
• Direct sales included 33,321 shares at $120.8458, 30,903 shares at $121.4741, 61,918 shares at $122.6173, 8,858 shares at $123.2797, 12,549 shares at $120.8383 and 11,390 shares at $121.4737, 22,794 shares at $122.6181 and 3,267 shares at $123.2799.
• Indirect sales through LIDI 11 21 LLC also occurred, with the Ittycheria Family Trust as the sole member and the Reporting Person as a beneficiary.
• Following these transactions, Ittycheria directly owns 34,867 shares and indirectly owns 90,899 shares through LIDI 11 21 LLC.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports transactions under a pre-existing trading plan. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Future Outlook

The sales will continue under the 10b5-1 trading plan.

Industry Context

Insider sales are a common occurrence, and the use of a 10b5-1 trading plan indicates that these sales were pre-planned and not based on any specific non-public information.

Related Party Transactions

• Shares are held directly by LIDI 11 21 LLC (the 'LLC').
• The Ittycheria Family Trust (the 'Trust') is the sole member of the LLC and Reporting Person is a beneficiary of the Trust.

Stakeholder Impact

• The sale of shares by a director could have a minor negative impact on shareholder confidence, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates