Form 4: DigitalOcean CFO Matt Steinfort Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
DigitalOcean's CFO, Matt Steinfort, sold 12,498 shares of common stock at $40 per share on September 11, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On September 11, 2024, Matt Steinfort, the Chief Financial Officer of DigitalOcean Holdings, Inc., sold 12,498 shares of the company's common stock.
- The sale was executed at a price of $40 per share.
- Following the transaction, Steinfort directly owns 548,542 shares of DigitalOcean.
- The sale was conducted under a Rule 10b5-1 trading plan previously established by Steinfort.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reports a routine stock sale under a pre-arranged trading plan. It doesn't inherently indicate positive or negative prospects for the company.
Industry Context
Sales by company executives are a normal part of corporate governance. The use of a 10b5-1 trading plan suggests the executive is selling at a pre-determined time and price to avoid insider trading accusations.
Key Dates
| Date | Description |
|---|---|
| 09/11/2024 | Date of stock sale transaction |
| 09/13/2024 | Date of signature on the Form 4 filing |
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