Form 4: Magnite's COO, Katie Seitz Evans, Sells Shares Under 10b5-1 Trading Plan

Katie Seitz Evans, COO of Magnite, Inc., sold 14,541 shares of common stock at an average price of $13.77 on June 13, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On June 13, 2024, Katie Seitz Evans, the Chief Operating Officer of Magnite, Inc., sold 14,541 shares of the company's common stock.
• The sale was executed at a weighted average price of $13.77 per share.
• The transactions occurred within a price range of $13.674 to $13.84.
• This sale was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on March 14, 2024.
• Following the transaction, Evans directly owns 408,960 shares of Magnite's common stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a routine stock sale by an executive under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.

Industry Context

Sales by company executives are a normal part of corporate governance. It is important to consider the context of the sale, such as the use of a 10b5-1 trading plan, which allows insiders to sell shares at predetermined times and prices to avoid accusations of insider trading.

Stakeholder Impact

• The sale of shares by a company executive could be perceived negatively by some shareholders, but the existence of a 10b5-1 trading plan mitigates concerns about insider trading.

Key Dates