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

Armon Dadgar, CTO of HashiCorp, sold shares of Class A Common Stock on September 23 and 24, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Armon Dadgar, the Chief Technology Officer of HashiCorp, executed sales of Class A Common Stock on September 23 and 24, 2024.
• The sales were conducted under a Rule 10b5-1 trading plan adopted on September 7, 2023.
• On September 23, 2024, 35,904 shares were sold at a weighted average price of $33.8039, with individual prices ranging from $33.78 to $33.84.
• On September 24, 2024, 17,659 shares were sold at a weighted average price of $33.8109, with individual prices ranging from $33.77 to $33.84.
• Following these transactions, Dadgar directly owns 27,275 shares of Class A Common Stock.
• Dadgar also indirectly owns 1,520,000 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.
• He also indirectly holds derivative securities convertible into Class A Common Stock: 12,231,180 through the Armon Dadgar 2020 Charitable Trust, 2,057,036 through the Armon Memaran-Dadgar Living Trust, and 601,328 through Black Swan III, LLC, and directly holds 480,916.

Sentiment

Score: 5

Explanation: This is a neutral event. It's a routine disclosure of stock sales under a pre-arranged trading plan. It doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions. It's common for executives to utilize 10b5-1 trading plans to sell shares over time to avoid accusations of trading on inside information. The impact on the stock price is usually minimal unless the sales are unusually large or frequent.

Key Dates