Form 4: Day One Biopharmaceuticals COO Charles N. York II Sells Shares Under 10b5-1 Trading Plan
SEC Filing
Charles N. York II, COO, CFO, and Secretary of Day One Biopharmaceuticals, Inc., sold shares of common stock between May 1st and May 3rd, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Charles N. York II, the COO, CFO, and Secretary of Day One Biopharmaceuticals, Inc. (DAWN), filed a Form 4 disclosing changes in beneficial ownership.
- The filing reports the sale of Day One Biopharmaceuticals, Inc. common stock on May 1, 2024, May 2, 2024, and May 3, 2024.
- These sales were executed under a Rule 10b5-1 trading plan adopted on October 6, 2023.
- On May 1, 2024, 52,183 shares were sold at a weighted average price of $17.887, with prices ranging from $17.84 to $18.04 per share.
- On May 2, 2024, 200 shares were sold at a weighted average price of $17.8955, with prices ranging from $17.85 to $17.955 per share.
- On May 3, 2024, 8,078 shares were sold at a weighted average price of $17.8527, with prices ranging from $17.84 to $17.96 per share.
- Following these transactions, York directly owns 217,293 shares of Day One Biopharmaceuticals, Inc. common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral. The filing simply reports stock sales under a pre-arranged trading plan, which doesn't necessarily indicate a positive or negative outlook for the company.
Risks
- Executive stock sales can sometimes be perceived negatively by investors, although sales under a 10b5-1 plan are typically less concerning as they are pre-planned.
Industry Context
Executive stock sales are a common occurrence in publicly traded companies. Monitoring these transactions can provide insights into management's perspective on the company's valuation and future prospects. Sales under 10b5-1 plans are generally viewed as less indicative of management sentiment than discretionary sales.
Stakeholder Impact
- The stock sales could have a minor impact on shareholders if they perceive the sales negatively, although the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 10/06/2023 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| 05/01/2024 | Date of first reported transaction: sale of common stock |
| 05/02/2024 | Date of second reported transaction: sale of common stock |
| 05/03/2024 | Date of third reported transaction: sale of common stock |
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