Form 4: Donnelley Financial Solutions Executive Craig Clay Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Craig Clay, President of GCM at Donnelley Financial Solutions, sold 5,698 shares of common stock at an average price of $66.0237 per share on April 24, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On April 24, 2024, Craig Clay, President, GCM of Donnelley Financial Solutions, sold 5,698 shares of the company's common stock.
- The sale was executed at a weighted average price of $66.0237 per share, with individual prices ranging from $66.00 to $66.18.
- The transaction was conducted under a Rule 10b5-1 trading plan adopted on December 27, 2023.
- Following the transaction, Clay directly owns 148,748 shares, which includes 94,284 shares held directly, 27,730 restricted stock units, and 26,734 earned performance share units with additional service-based vesting.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing related to an executive stock sale under a pre-arranged trading plan, indicating a neutral sentiment.
Industry Context
Sales by executives are a normal part of corporate governance. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on any inside information.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders due to the small volume of shares sold.
Key Dates
| Date | Description |
|---|---|
| 2023-12-27 | Date of adoption of Rule 10b5-1 trading plan |
| 2024-04-24 | Date of stock sale |
| 2024-04-26 | Date of Form 4 filing |
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