Form 4: Grindr Inc. Chief Accounting Officer Kye Chen Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Kye Chen, Chief Accounting Officer of Grindr Inc., sold 16,187 shares of common stock at a weighted average price of $11.68 on September 6, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On September 6, 2024, Kye Chen, the Chief Accounting Officer of Grindr Inc., sold 16,187 shares of Grindr's common stock.
- The sales were executed under a Rule 10b5-1 trading plan adopted on June 7, 2024.
- The shares were sold at prices ranging from $11.56 to $11.92, with a weighted average price of $11.68.
- Following the transaction, Kye Chen directly owns 138,604 shares of Grindr Inc.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing an insider stock sale under a pre-arranged trading plan, indicating a neutral sentiment.
Industry Context
This Form 4 filing is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of insider trading based on short term movements.
Stakeholder Impact
- The sale of shares by a company executive could be perceived negatively by some investors, potentially leading to slight downward pressure on the stock price.
Key Dates
| Date | Description |
|---|---|
| June 7, 2024 | Date of adoption of the Rule 10b5-1 trading plan. |
| September 6, 2024 | Date of the stock sale transaction. |
| September 10, 2024 | Date of the Form 4 filing. |
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.