Form 4: Equitable COO sells shares under 10b5-1 plan

Equitable Holdings’ COO Jeffrey J. Hurd sold 6,790 shares on November 17, 2025 under a pre-set Rule 10b5-1 plan, retaining 68,307.78 shares afterward.

Summary

• Chief Operating Officer Jeffrey J. Hurd executed two open-market sales totaling 6,790 shares of Equitable Holdings, Inc. (EQH) on 2025-11-17.
• Tranche 1: 3,790 shares sold at a weighted average price of $42.8064, with individual trade prices ranging from $42.4900 to $43.3700.
• Tranche 2: 3,000 shares sold at a weighted average price of $43.8783, with individual trade prices ranging from $43.5500 to $44.2200.
• Following the first sale, beneficial ownership was 71,307.78 shares; after the second sale, beneficial ownership was 68,307.78 shares.
• Sales were conducted pursuant to a Rule 10b5-1 trading plan adopted on 2025-05-01.
• Total beneficial ownership includes Restricted Stock Units (RSUs).
• The report was signed by an attorney-in-fact on 2025-11-18.

Sentiment

Score: 5

Explanation: Neutral; a modest insider sale under a pre-established 10b5-1 plan with substantial residual ownership and no operational or financial guidance implications.

Positives

• Sales executed under a pre-arranged Rule 10b5-1 plan adopted on 2025-05-01, reducing concerns about opportunistic timing.
• COO maintains a significant stake post-transaction: 68,307.78 shares (including RSUs).
• Transparent disclosure of price ranges and commitment to provide detailed trade information upon request.

Negatives

• Insider selling by a senior executive (COO) totaling 6,790 shares on a single day.
• Sequential sales at rising weighted average prices ($42.8064 and $43.8783) may be perceived negatively by some investors despite the 10b5-1 plan.

Future Outlook

No forward-looking statements or guidance are provided; this is a transactional disclosure of insider share sales.

Management Comments

• Sales were effected pursuant to a Rule 10b5-1 trading plan adopted on 2025-05-01.
• Prices reflect weighted averages across multiple trades executed within specified ranges; full trade details will be provided upon request.

Industry Context

Executive trades under Rule 10b5-1 plans are standard practice in U.S. financial services, especially following enhanced SEC requirements for adoption disclosures and cooling-off periods. The transaction aligns with typical insider sale activity seen at large insurers and asset managers.

Comparison to Industry Standards

• Use of a Rule 10b5-1 plan is consistent with peers such as MetLife (MET), Prudential Financial (PRU), and AIG, where executives commonly pre-schedule trades to mitigate appearance of trading on material nonpublic information.
• Sale size (6,790 shares) is modest relative to typical insider transactions at large-cap financials and unlikely to be material versus overall float.

Stakeholder Impact

• Shareholders: Potential perception effects from insider selling, but no dilution and no indicated change to company fundamentals.
• Company operations and creditors: No direct impact disclosed.
• Employees and customers: No impact disclosed.

Key Dates

Keywords

Equitable Holdings, EQH, Form 4, insider trading, 10b5-1 plan, Jeffrey J. Hurd, Chief Operating Officer, beneficial ownership, restricted stock units, insider sale