Form 4: Magnite's Chief Revenue Officer Sells Shares Under 10b5-1 Trading Plan

Sean Patrick Buckley, Chief Revenue Officer of Magnite, Inc., sold 21,653 shares of common stock at $13.50 per share on June 5, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On June 5, 2024, Sean Patrick Buckley, the Chief Revenue Officer of Magnite, Inc., sold 21,653 shares of Magnite's common stock.
• The sale was executed at a price of $13.50 per share.
• This transaction was conducted under a Rule 10b5-1 trading plan adopted by Buckley on November 24, 2023.
• Following the transaction, Buckley still beneficially owns 383,222 shares of Magnite's common stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a sale of shares by an executive. It's neutral in sentiment as it simply reports a transaction.

Industry Context

Sales by company executives are a normal part of corporate governance. It is important to note that the sale was executed under a pre-arranged 10b5-1 trading plan, which is a common practice to avoid accusations of insider trading.

Stakeholder Impact

• The sale of shares by a company executive could be perceived negatively by some shareholders, although the existence of a 10b5-1 trading plan mitigates this concern.

Key Dates