Form 4: Magnite CFO David Day Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Magnite's CFO, David Day, executed sales of common stock on December 16 and 17, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- David Day, the CFO of Magnite, Inc., sold shares of common stock on December 16 and 17, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on September 12, 2024.
- On December 16, 2024, 11,644 shares were sold at a weighted average price of $16.44.
- On December 17, 2024, 13,500 shares were sold at a weighted average price of $16.32.
- Following these transactions, David Day directly owns 387,359 shares of Magnite common stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sentiment is neutral as it simply reports transactions.
Industry Context
Insider sales are a common occurrence, and the use of a 10b5-1 plan suggests the sales were pre-planned and not based on any specific non-public information.
Stakeholder Impact
- Shareholders may react to insider selling, although the existence of a 10b5-1 plan mitigates concerns about opportunistic trading.
Key Dates
| Date | Description |
|---|---|
| 09/12/2024 | Date of adoption of Rule 10b5-1 trading plan |
| 12/16/2024 | Date of first transaction: sale of 11,644 shares |
| 12/17/2024 | Date of second transaction: sale of 13,500 shares |
| 12/18/2024 | Date of Form 4 filing |
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