Form 4: Intuit Founder Scott Cook Sells Shares Under 10b5-1 Trading Plan

Scott Cook, founder of Intuit, sold shares of common stock on August 26 and 27, 2024, through a pre-arranged 10b5-1 trading plan.

Summary

• Scott Cook, a director and founder of Intuit, sold shares of Intuit common stock on August 26 and 27, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on December 26, 2023.
• The shares were sold at various prices ranging from approximately $612.23 to $631.68.
• The transactions were conducted through the Scott D. Cook and Helen Signe Ostby Family Trust UTA 12/30/93.
• Following the reported transactions, Cook indirectly owns 6,530,566 shares through various trusts, including the Scott D. Cook and Helen Signe Ostby 1994 Charitable Trust UTA 12/30/94 (43,868 shares), the Scott D. Cook 2023 GRAT (162,397 shares), and the 1993 Trust.
• Cook also directly owns 162,397 shares.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine transactions. The sentiment is neutral as it simply reports the sale of shares under a pre-existing trading plan.

Industry Context

Sales by insiders are a common occurrence and are often pre-planned to avoid accusations of trading on inside information. The use of a 10b5-1 plan provides a legal framework for insiders to sell shares at predetermined times and prices.

Stakeholder Impact

• The sale of shares by a company founder could be perceived negatively by some investors, potentially leading to slight downward pressure on the stock price in the short term.
• However, the existence of a pre-arranged trading plan mitigates concerns about insider trading and suggests the sales are for personal financial planning purposes.

Key Dates