Form 4: Magnite CFO David Day Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Magnite's CFO, David Day, sold 21,299 shares of common stock on June 12, 2024, at an average price of $14.01, according to a Form 4 filing with the SEC.
Summary
- On June 12, 2024, David Day, the Chief Financial Officer of Magnite, Inc., sold 21,299 shares of Magnite's common stock.
- The sale was executed at a weighted average price of $14.01 per share, with individual transactions ranging from $14.00 to $14.01.
- The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan adopted by Day on December 14, 2023.
- Following the reported transaction, Day still beneficially owns 449,832 shares of Magnite common stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to a stock sale by an executive. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.
Industry Context
Executive stock sales are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 trading plan allows insiders to sell shares at predetermined times to avoid accusations of insider trading.
Stakeholder Impact
- The sale of shares by a high-ranking executive could potentially create uncertainty among shareholders, although the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 12/14/2023 | Date the Reporting Person adopted a Rule 10b5-1 trading plan |
| 06/12/2024 | Date of the transaction (sale of common stock) |
| 06/14/2024 | Date of the signature on the Form 4 filing |
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