Form 4: Intuit Inc. Director Scott Cook Executes Stock Sales Under 10b5-1 Trading Plan
SEC Form 4
Scott Cook, Chair of the Executive Committee at Intuit Inc., executed multiple sales of common stock on May 28 and 29, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Scott Cook, Chair of the Executive Committee at Intuit Inc., reported the sale of Intuit common stock on May 28 and 29, 2024.
- The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 26, 2023.
- On May 28, 2024, Cook sold shares in multiple transactions at prices ranging from $593.37 to $604.58.
- On May 29, 2024, Cook sold shares in multiple transactions at prices ranging from $593.20 to $610.218.
- The sales on both days involved multiple trades at varying prices, with the reported prices reflecting weighted averages.
- Following these transactions, Cook continues to beneficially own a significant amount of Intuit stock through various trusts.
- The reporting person undertakes to provide full information regarding the number of shares and prices at which each transaction was effected upon request to the SEC staff, the issuer, or a security holder of the issuer.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock sales by an insider. It doesn't inherently convey positive or negative sentiment, as it simply reports transactions executed under a pre-existing plan.
Industry Context
This filing is a routine disclosure of insider stock sales and is a common practice among corporate executives. The use of a 10b5-1 trading plan allows insiders to sell shares over a predetermined period, mitigating concerns about trading on non-public information.
Stakeholder Impact
- The stock sales may have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
- However, given the pre-planned nature of the sales and the relatively small volume compared to the overall market capitalization of Intuit, the impact is likely to be minimal.
Key Dates
| Date | Description |
|---|---|
| 12/30/1993 | Date of Scott D. Cook and Helen Signe Ostby Family Trust UTA |
| 12/30/1994 | Date of Scott D. Cook and Helen Signe Ostby 1994 Charitable Trust UTA |
| 12/26/2023 | Date of adoption of Rule 10b5-1 trading plan |
| 05/28/2024 | Date of first reported stock sales |
| 05/29/2024 | Date of second reported stock sales |
| 05/30/2024 | Date of Form 4 filing |
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