Form 4: Ethan Allen Interiors CEO M. Farooq Kathwari Sells Shares Under 10b5-1 Plan

M. Farooq Kathwari, Chairman, President, and CEO of Ethan Allen Interiors, executed sales of company stock on July 17, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• M. Farooq Kathwari, the Chairman, President, and CEO of Ethan Allen Interiors, sold shares of the company's common stock on July 17, 2024.
• The sales were executed under a pre-arranged Rule 10b5-1 stock selling plan adopted on March 14, 2024, with an effective date of June 17, 2024.
• Kathwari sold 10,000 shares directly at a price of $31.05 per share.
• Additionally, he sold 175 shares each from the 2020 Trust FBO Kolhai Gibran Kathwari, 2020 Trust FBO Zavier Irfan Kathwari, 2020 Trust FBO Samantha Maxime Van Puyenbroeck-Kathwari and 2020 Trust FBO Gabriel Alexander Van Puyenbroeck-Kathwari at $31.05 per share.
• The Irfan Kathwari Foundation also sold 8,000 shares of Ethan Allen common stock pursuant to the same Rule 10b5-1 stock selling plan.
• Following the transactions, Kathwari directly owns 1,715,193 shares of Ethan Allen common stock.
• He also indirectly owns 15,364 shares held by his spouse, 8,565.25 shares held in a 401(k) plan, and 24,650 shares each in the four 2020 Trusts.
• The trading plan was previously disclosed in the Issuer's Quarterly Report on Form 10-Q filed on April 24, 2024.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing regarding stock sales under a pre-arranged plan, so the sentiment is neutral.

Industry Context

Sales by executives are common and often pre-planned to avoid insider trading concerns. The use of a 10b5-1 plan indicates the sales were arranged in advance.

Key Dates