Form 4: First Busey Corp Director Michael Cassens Sells Shares Under 10b5-1 Plan
SEC Form 4
Director Michael Cassens of First Busey Corp sold 2,300 shares of common stock at an average price of $23.8128 on May 15, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- On May 15, 2024, Michael David Cassens, a director of First Busey Corp, sold 2,300 shares of the company's common stock.
- The sale was executed at a weighted average price of $23.8128 per share.
- The transactions occurred at prices ranging from $23.71 to $23.93.
- The sale was conducted under a Rule 10b5-1 trading plan adopted on May 25, 2022.
- Following the transaction, Cassens directly owns 137,695 shares of First Busey Corp common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transaction is a routine sale under a pre-arranged trading plan and doesn't necessarily indicate a positive or negative outlook on the company.
Industry Context
Sales by insiders are common and often pre-planned, especially when executed under 10b5-1 plans. These plans allow insiders to sell shares at predetermined times and prices to avoid accusations of trading on non-public information.
Key Dates
| Date | Description |
|---|---|
| 05/25/2022 | Date of adoption of the Rule 10b5-1 trading plan. |
| 05/15/2024 | Date of the stock sale transaction. |
| 05/16/2024 | Date of signature on the Form 4 filing. |
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