Form 4: Fastly's Chief Technology Officer, Artur Bergman, Sells Shares to Cover Tax Obligations and Under 10b5-1 Plan
SEC Form 4
Artur Bergman, Fastly's CTO, sold shares of Class A Common Stock to cover tax obligations and under a pre-arranged 10b5-1 trading plan.
Summary
- Fastly's Chief Technology Officer, Artur Bergman, reported changes in beneficial ownership of the company's stock.
- On May 16, 2025, Bergman sold 18,155 shares of Class A Common Stock at $8.19 per share to satisfy tax obligations related to vesting Restricted Stock Units.
- On May 19, 2025, he sold 22,939 shares at a weighted average price of $7.75 per share, ranging from $7.66 to $7.80, under a Rule 10b5-1 trading plan adopted on June 3, 2024.
- Following these transactions, Bergman directly owns 3,627,964 shares of Class A Common Stock.
- He also indirectly owns shares through various trusts, including The Per Artur Bergman Revocable Trust (2,500,558 shares), The Artur Bergman Remainder Trust One DTD 5/2/2019 (840,005 shares), The Artur Bergman Remainder Trust Three DTD 5/2/2019 (109,686 shares), The Per Artur Bergman Grantor Retained Annuity Trust No. 3 (50,481 shares), The Per Artur Bergman Grantor Retained Annuity Trust No. 4 (792,998 shares), and The PAB 2021 Remainder Trust (156,521 shares).
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock sales by an executive. It doesn't inherently convey positive or negative sentiment, but the market's reaction will depend on the context and the size of the sales relative to the executive's holdings.
Industry Context
Insider sales are a common occurrence, and the use of 10b5-1 plans allows insiders to sell shares in a pre-planned manner to avoid accusations of trading on non-public information. The market often scrutinizes these sales for signals about management's confidence in the company's future prospects.
Comparison to Industry Standards
- Comparing Artur Bergman's transactions to similar filings from executives at companies like Cloudflare (NET) or Akamai (AKAM) could provide context on the scale and frequency of insider selling in the content delivery network (CDN) industry.
- For example, if executives at Cloudflare or Akamai are also selling shares under 10b5-1 plans, it might suggest a broader trend of executives taking profits or diversifying their holdings.
- However, if Bergman's sales are significantly larger or more frequent than those of his peers, it could raise concerns among investors.
Stakeholder Impact
- Shareholders may react to the news of insider selling, although sales under a 10b5-1 plan are generally viewed as less concerning.
- The sales could slightly increase the stock's trading volume.
Key Dates
| Date | Description |
|---|---|
| 05/02/2019 | Date of The Artur Bergman Remainder Trust One DTD and The Artur Bergman Remainder Trust Three DTD |
| 06/03/2024 | Date the 10b5-1 trading plan was adopted by Artur Bergman |
| 05/16/2025 | Date of the first reported transaction: sale of 18,155 shares at $8.19 |
| 05/19/2025 | Date of the second reported transaction: sale of 22,939 shares at a weighted average price of $7.75 |
| 05/20/2025 | Date of signature for the Form 4 filing |
Keywords
Fastly, Artur Bergman, FSLY, stock sale, Form 4, beneficial ownership, 10b5-1 plan, CTO, insider trading
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.