Form 4: GoDaddy COO Roger Chen Sells 4,000 Shares Under 10b5-1 Plan

GoDaddy's Chief Operating Officer, Roger Chen, sold 4,000 shares of Class A Common Stock at $139.79 per share on July 1, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On July 1, 2024, Roger Chen, the Chief Operating Officer of GoDaddy Inc., sold 4,000 shares of Class A Common Stock.
• The sale was executed at a price of $139.79 per share.
• The transaction was conducted under a pre-arranged 10b5-1 trading plan.
• Following the transaction, Roger Chen directly owns 192,632 shares of GoDaddy Inc.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it reports a routine transaction under a pre-existing trading plan. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

Insider sales are common and often pre-planned, especially under 10b5-1 plans, which allow corporate insiders to sell company stock at predetermined times to avoid accusations of trading on non-public information. The market typically views these sales in the context of the overall trading volume and the executive's remaining holdings.

Comparison to Industry Standards

• Comparing Chen's transaction to other tech company executives' trading activity, it's a relatively small sale.
• For example, executives at companies like Amazon or Microsoft often have much larger holdings and may execute sales of significantly greater volume.
• The use of a 10b5-1 plan is standard practice among executives to ensure compliance with insider trading regulations, similar to practices at companies like Alphabet (Google) and Meta (Facebook).

Key Dates