Form 4: HashiCorp CTO, Armon Dadgar, Executes Stock Transactions Under 10b5-1 Plan

HashiCorp's Chief Technology Officer, Armon Dadgar, engaged in stock transactions, including the sale of 35,903 Class A shares, under a pre-arranged 10b5-1 trading plan.

Summary

• Armon Dadgar, the Chief Technology Officer of HashiCorp, executed several transactions involving the company's stock.
• On November 22, 2024, Mr. Dadgar acquired 35,903 Class A Common Stock shares through the conversion of Class B Common Stock.
• On the same day, he sold 35,903 Class A Common Stock shares at a weighted average price of $33.8988 per share.
• These transactions were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on September 7, 2023.
• Following these transactions, Mr. Dadgar directly owns 27,275 Class A Common Stock shares and indirectly owns 1,520,000 Class A Common Stock shares through the Armon Dadgar 2020 Charitable Trust, 282,617 shares through the Armon Memaran-Dadgar Living Trust, and 90,440 shares through Black Swan III, LLC.
• Mr. Dadgar also indirectly holds 12,087,565 Class B Common Stock shares through the Armon Dadgar 2020 Charitable Trust, 2,057,036 shares through the Armon Memaran-Dadgar Living Trust, and 601,328 shares through Black Swan III, LLC.

Sentiment

Score: 5

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

Risks

• The sale of shares by a key executive could be perceived negatively by the market, although it was conducted under a pre-arranged plan.

Industry Context

This filing is a routine disclosure of 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 10b5-1 trading plan is a common practice among executives at publicly traded companies, including those in the technology sector like HashiCorp. Companies such as Microsoft, Google, and Amazon also have executives who utilize these plans to manage their stock holdings.
• The reporting of these transactions via SEC Form 4 is standard procedure and is consistent with regulatory requirements for all publicly traded companies.

Stakeholder Impact

• The transactions may have a minor impact on shareholders, but the pre-planned nature of the sale mitigates any significant concerns.

Key Dates

Keywords

HashiCorp, Armon Dadgar, stock transaction, Form 4, 10b5-1 plan, Class A Common Stock, Class B Common Stock, insider trading, SEC filing