Form 4: Magnite CTO David Buonasera Sells 9,219 Shares Under 10b5-1 Trading Plan

Magnite's Chief Technology Officer, David Buonasera, sold 9,219 shares of common stock at $17 per share on November 22, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• David Buonasera, the Chief Technology Officer of Magnite, Inc., sold 9,219 shares of the company's common stock on November 22, 2024.
• The sale was executed at a price of $17 per share.
• This transaction was conducted under a pre-established Rule 10b5-1 trading plan adopted by Mr. Buonasera on August 15, 2024.
• Following the transaction, Mr. Buonasera directly owns 226,195 shares of Magnite common stock.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to an insider stock sale under a pre-arranged plan. It does not indicate any positive or negative sentiment about the company's performance.

Industry Context

This is a routine filing related to insider trading activity. It is common for executives to use 10b5-1 plans to manage their stock sales and avoid accusations of insider trading.

Comparison to Industry Standards

• The use of 10b5-1 trading plans is a common practice among executives at publicly traded companies, including those in the technology sector like Magnite.
• Similar filings are regularly seen from executives at companies like The Trade Desk (TTD) and PubMatic (PUBM), which are Magnite's direct competitors in the ad tech space.
• The volume of shares sold is relatively small compared to the total outstanding shares of Magnite, and is not unusual for a routine transaction under a 10b5-1 plan.

Stakeholder Impact

• The stock sale by a company executive may have a minor impact on investor sentiment, but is unlikely to significantly affect the share price given the pre-arranged nature of the transaction.

Key Dates

Keywords

Magnite, MGNI, David Buonasera, Chief Technology Officer, stock sale, Rule 10b5-1, insider trading