Form 4: Magnite CFO David Day Reports Stock Disposals
SEC Form 4
Magnite's CFO, David Day, reported the disposal of shares to cover tax obligations and sales under a pre-arranged trading plan.
Summary
- On May 15, 2024, David Day, CFO of Magnite, Inc., had 12,380 shares forfeited to cover tax withholding obligations at a price of $9.8.
- On May 16, 2024, Day sold 19,370 shares at $12 per share under a Rule 10b5-1 trading plan.
- Following these transactions, Day directly owns 491,863 shares of Magnite, Inc.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting stock transactions by an insider, which is neutral in sentiment.
Industry Context
This filing is a routine disclosure of insider transactions and doesn't necessarily indicate a change in the company's prospects or performance.
Stakeholder Impact
- The stock sale could have a minor impact on shareholders due to the increased supply of shares in the market.
Key Dates
| Date | Description |
|---|---|
| 12/14/2023 | Date of adoption of Rule 10b5-1 trading plan |
| 05/15/2024 | Forfeiture of shares for tax obligations |
| 05/16/2024 | Sale of shares under Rule 10b5-1 trading plan |
| 05/17/2024 | Date of signature for the Form 4 filing |
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