Form 4: Magnite Inc. Chief Accounting Officer Sells Shares Under 10b5-1 Plan

Magnite's Chief Accounting Officer, Brian Gephart, sold 2,156 shares of common stock at $15 per share on November 11, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Brian Gephart, the Chief Accounting Officer of Magnite, Inc., sold 2,156 shares of common stock.
• The sale occurred on November 11, 2024, at a price of $15 per share.
• This transaction was executed under a Rule 10b5-1 trading plan adopted by Mr. Gephart on December 15, 2023.
• Following the transaction, Mr. Gephart directly owns 116,982 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

• Rule 10b5-1 trading plans are a common practice among executives at publicly traded companies, including those in the technology and advertising sectors like Magnite.
• Similar filings are regularly seen from executives at companies such as The Trade Desk (TTD) and PubMatic (PUBM), which are Magnite's 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 routine sales under a 10b5-1 plan.

Stakeholder Impact

• The sale of shares by a company officer may have a minor impact on shareholder sentiment, but is unlikely to have a significant effect due to the pre-planned nature of the transaction.

Key Dates

Keywords

Magnite, MGNI, Brian Gephart, Chief Accounting Officer, stock sale, Rule 10b5-1, insider trading