Form 4: Magnite CFO Day David Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Magnite's CFO, Day David, sold 20,732 shares of common stock at $13 per share on June 3, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- On June 3, 2024, Day David, the Chief Financial Officer of Magnite, Inc., sold 20,732 shares of Magnite's common stock.
- The sale was executed at a price of $13 per share.
- The transaction was conducted under a Rule 10b5-1 trading plan adopted by Mr. David on December 14, 2023.
- Following the transaction, Mr. David directly owns 471,131 shares of Magnite's common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the sale was conducted under a pre-arranged trading plan. It doesn't necessarily reflect a negative outlook on the company, but it isn't a positive signal either.
Industry Context
Sales by company insiders are a common occurrence and are often pre-planned to avoid accusations of insider trading. The market will often look at the ratio of buys to sells to determine sentiment.
Stakeholder Impact
- The sale of shares by a high-ranking officer could create uncertainty among shareholders.
Key Dates
| Date | Description |
|---|---|
| 2023-12-14 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| 2024-06-03 | Date of the transaction (stock sale) |
| 2024-06-05 | Date of signature on the Form 4 filing |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.