Form 4: Dexcom Executive Michael Jon Brown Sells Shares Under 10b5-1 Plan
SEC Form 4
EVP and Chief Legal Officer of Dexcom Inc., Michael Jon Brown, sold 659 shares of common stock at $114.29 per share on June 28, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- Michael Jon Brown, EVP and Chief Legal Officer of Dexcom Inc., sold 659 shares of common stock on June 28, 2024.
- The sale was executed at a price of $114.29 per share.
- The transaction was conducted under a 10b5-1 trading plan adopted on December 15, 2022, and amended on August 29, 2023.
- Following the transaction, Brown beneficially owns 66,901 shares of Dexcom Inc., which includes 60,303 unvested restricted stock units.
- These restricted stock units vest through March 8, 2027.
Sentiment
Score: 5
Explanation: The document describes a routine stock sale by an executive under a pre-arranged plan, indicating a neutral sentiment.
Industry Context
Sales by executives are a normal part of executive compensation and wealth management. The use of a 10b5-1 plan indicates that the sales were pre-planned and not based on any inside information.
Stakeholder Impact
- The sale may have a minor impact on shareholders due to the small volume of shares sold.
Key Dates
| Date | Description |
|---|---|
| 2022-12-15 | Mr. Brown adopted a 10b5-1 Plan. |
| 2023-08-29 | Mr. Brown's 10b5-1 Plan was amended. |
| 2024-03-08 | Grant date of 21,711 unvested restricted stock units which shall vest through March 8, 2027; 14,512 unvested restricted stock units which shall vest through March 8, 2026; and 24,080 unvested restricted stock units which shall vest through March 8, 2026. |
| 2024-06-28 | Date of the stock sale transaction. |
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