Form 4: HashiCorp's CTO, Armon Dadgar, Reports Stock Transactions

Armon Dadgar, HashiCorp's CTO, reports the acquisition and disposition of Class A Common Stock and derivative securities, including sales executed under a Rule 10b5-1 trading plan.

Summary

• Armon Dadgar, the Chief Technology Officer of HashiCorp, Inc., filed a Form 4 detailing changes in beneficial ownership of the company's securities.
• On July 22, 2024, Dadgar acquired 35,904 shares of Class A Common Stock and disposed of the same amount.
• The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on September 7, 2023.
• The shares were sold at a weighted average price of $33.4969, with individual transactions ranging from $33.46 to $33.51.
• Following the reported transactions, Dadgar directly owns 23,234 shares of Class A Common Stock.
• Dadgar also indirectly owns a significant number of shares through various trusts and entities, including the Armon Dadgar 2020 Charitable Trust, the Armon Memaran-Dadgar Living Trust, and Black Swan III, LLC.
• He 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.
• Dadgar also indirectly owns derivative securities convertible into Class A Common Stock, including 12,374,796 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.
• He directly owns derivative securities convertible into 480,916 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a standard regulatory filing detailing stock transactions by an executive. The transactions are part of a pre-planned trading strategy.

Industry Context

This filing is a routine disclosure of insider trading activity. It is common for executives to have pre-arranged trading plans (Rule 10b5-1) to avoid accusations of trading on inside information.

Key Dates