Form 4: Day One Biopharmaceuticals Executive Sells 10,000 Shares Under 10b5-1 Trading Plan

Samuel C. Blackman, Head of R&D at Day One Biopharmaceuticals, sold 10,000 shares of common stock at an average price of $16.3743 per share, pursuant to a pre-arranged Rule 10b5-1 trading plan.

Summary

• On May 10, 2024, Samuel C. Blackman, Head of R&D at Day One Biopharmaceuticals, sold 10,000 shares of the company's common stock.
• The sales were executed under a Rule 10b5-1 trading plan adopted on October 10, 2023.
• The shares were sold at a weighted average price of $16.3743, with individual transactions ranging from $16.25 to $16.63 per share.
• Following the transaction, Blackman directly owns 1,164,662 shares of Day One Biopharmaceuticals.
• Blackman also indirectly owns 1,000,000 shares through the 2021 Blackman Family LLC, but disclaims beneficial ownership except to the extent of his and his wife's pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a routine stock sale by an executive under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.

Industry Context

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

Comparison to Industry Standards

• It is common for executives in publicly traded companies, including those in the biopharmaceutical industry, to utilize 10b5-1 trading plans to sell shares.
• These plans allow insiders to sell shares at predetermined times and prices, avoiding accusations of trading on insider information.
• The volume of shares sold (10,000) is relatively small compared to the total shares beneficially owned (1,164,662 directly and 1,000,000 indirectly), suggesting this is likely part of a regular diversification strategy.

Stakeholder Impact

• The sale of shares by an executive could have a minor negative impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates this concern.

Key Dates