Form 4: IDACORP SVP Jeffrey Malmen Sells 5,000 Shares Amid Lock-Up Agreement

IDACORP's SVP of Public Affairs, Jeffrey L. Malmen, sold 5,000 shares of common stock at a weighted average price of $111.31, while subject to a lock-up agreement related to a recent stock offering.

Summary

• Jeffrey L. Malmen, SVP of Public Affairs at IDACORP INC, sold 5,000 shares of common stock on May 13, 2025.
• The sale was executed at a weighted average price of $111.31 per share, with individual trades ranging from $111.05 to $111.50.
• Following the transaction, Malmen directly owns 16,346 shares of IDACORP INC.
• The sale occurred while Malmen is subject to a 60-day lock-up agreement related to IDACORP's common stock offering, but the sale was made under a permissible exemption.
• A power of attorney was executed effective May 16, 2024, granting Brian Bishop, Julia A Hilton, and Cheryl W Thompson the authority to file Forms 3, 4, and 5 on behalf of James Bo D. Hanchey.

Sentiment

Score: 5

Explanation: The sentiment is neutral. It's a routine disclosure of an insider stock sale. The fact that it occurred during a lock-up period, but with an exemption, adds a slight element of caution, but overall, it's a standard transaction.

Risks

• The sale by an officer during a lock-up period, even with an exemption, could be perceived negatively by investors.

Future Outlook

There is no future outlook provided in this document.

Industry Context

Insider sales are common and closely monitored, especially in the context of recent stock offerings and lock-up agreements. Investors often look to these transactions for signals about management's confidence in the company's future prospects. The fact that the sale was made under a permissible exemption of the lock-up agreement is important.

Comparison to Industry Standards

• Executive stock sales are a normal part of corporate compensation, and the legality depends on compliance with SEC rules, insider trading policies, and any existing lock-up agreements.
• Lock-up agreements are standard practice during IPOs and secondary offerings to prevent large-scale selling that could depress the stock price.
• Comparable companies like Berkshire Hathaway, NextEra Energy, and Duke Energy also have executives who periodically file Form 4s for stock transactions.

Stakeholder Impact

• The sale could have a minor impact on shareholder sentiment, depending on how it's perceived in light of the lock-up agreement and the company's recent stock offering.

Key Dates

Keywords

IDACORP, Insider Trading, Form 4, Stock Sale, Lock-Up Agreement, Jeffrey Malmen, Executive Compensation, Equity Securities