Form 4: Day One Biopharmaceuticals Executive Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Day One Biopharmaceuticals' Head of R&D, Samuel C. Blackman, sold a total of 28,255 shares of common stock in two transactions under a pre-arranged 10b5-1 trading plan.
Summary
- Samuel C. Blackman, Head of R&D at Day One Biopharmaceuticals, sold 18,255 shares of common stock on November 8, 2024, at a weighted average price of $16.1725 per share.
- He then sold an additional 10,000 shares on November 11, 2024, at a weighted average price of $16.0994 per share.
- These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on October 10, 2023.
- Following these transactions, Mr. Blackman directly owns 1,057,535 shares of common stock.
- He also indirectly owns 1,000,000 shares through the 2021 Blackman Family LLC, where he shares voting and dispositive power with his wife.
Sentiment
Score: 5
Explanation: The document is a routine SEC Form 4 filing for stock sales under a pre-arranged plan, which is neither positive nor negative in itself. It's a neutral event.
Risks
- Executive stock sales can sometimes be perceived negatively by the market, potentially impacting the stock price.
Industry Context
Executive stock sales are a common occurrence in publicly traded companies, often part of pre-planned strategies for personal financial management. The use of a 10b5-1 plan indicates that the sales were pre-arranged and not based on any material non-public information.
Comparison to Industry Standards
- The use of a 10b5-1 trading plan is a standard practice among executives at publicly traded companies to avoid accusations of insider trading.
- The reported sales are within the typical range of executive stock transactions.
- Comparable companies often see similar filings when executives sell shares.
Stakeholder Impact
- The stock sales may have a minor impact on the share price, but the pre-planned nature of the sales should mitigate any significant negative reaction.
Key Dates
| Date | Description |
|---|---|
| 10/10/2023 | Date the Rule 10b5-1 trading plan was adopted by the Reporting Person. |
| 11/08/2024 | Date of the first stock sale transaction. |
| 11/11/2024 | Date of the second stock sale transaction. |
| 11/12/2024 | Date the Form 4 was signed. |
Keywords
insider trading, stock sale, Rule 10b5-1, Day One Biopharmaceuticals, Samuel C. Blackman, executive, DAWN
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