Form 4: Magnite CFO David Day Sells 19,077 Shares Under 10b5-1 Trading Plan

Magnite's Chief Financial Officer, David Day, executed a sale of 19,077 shares of common stock at $15 per share on July 15, 2024, according to a pre-arranged Rule 10b5-1 trading plan.

Summary

• On July 15, 2024, David Day, the Chief Financial Officer of Magnite, Inc., sold 19,077 shares of Magnite's common stock.
• The sale was executed at a price of $15 per share.
• This transaction was conducted under a pre-arranged Rule 10b5-1 trading plan that Day adopted on December 14, 2023.
• Following the transaction, Day directly owns 430,755 shares of Magnite's common stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a stock sale by an executive. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.

Industry Context

This filing is a routine disclosure of insider trading activity. It's common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information. The impact on Magnite's stock will likely be minimal unless this is part of a larger trend of insider selling.

Stakeholder Impact

• The stock sale could have a minor negative impact on shareholder sentiment if investors interpret it as a lack of confidence by the CFO, but the impact is likely to be minimal given the pre-planned nature of the sale.

Key Dates