Form 4: Freshworks Director Barry L. Padgett Executes Stock Transactions Under 10b5-1 Plan

Freshworks director Barry L. Padgett sold 780 shares of Class A Common Stock at $16.38 per share and acquired 780 shares at $0, while also converting 780 shares of Class B Common Stock to Class A Common Stock.

Summary

• On January 2, 2025, Freshworks director Barry L. Padgett engaged in multiple transactions involving the company's stock.
• Padgett acquired 780 shares of Class A Common Stock at a price of $0.
• He also sold 780 shares of Class A Common Stock at a price of $16.38 per share.
• These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on September 17, 2024.
• Additionally, 780 shares of Class B Common Stock were converted to Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing stock transactions by a company director. It doesn't indicate any positive or negative sentiment, it is a neutral event.

Industry Context

This is a routine filing related to insider trading activity, which is common for publicly traded companies. The use of a 10b5-1 plan indicates that the transactions were pre-planned and not based on any material non-public information.

Comparison to Industry Standards

• The use of a Rule 10b5-1 trading plan is a common practice among corporate insiders to avoid accusations of insider trading.
• Many companies, such as Salesforce (CRM) and Workday (WDAY), have executives who utilize similar plans for stock transactions.
• The reported transactions are typical for directors and officers of publicly traded companies.

Stakeholder Impact

• The transactions are unlikely to have a significant impact on stakeholders as they are part of a pre-planned trading strategy.

Key Dates

Keywords

Freshworks, FRSH, Barry L. Padgett, stock transaction, Form 4, Rule 10b5-1, Class A Common Stock, Class B Common Stock, insider trading