Form 4: Magnite's CTO, David Buonasera, Executes Stock Transactions
SEC Form 4
David Buonasera, Magnite's CTO, reports the disposition of shares to cover tax obligations and a sale under a pre-arranged trading plan.
Summary
- On August 15, 2024, David Buonasera, the Chief Technology Officer of Magnite, Inc. (MGNI), engaged in transactions involving the company's common stock.
- Buonasera disposed of 3,760 shares to cover tax withholding obligations at a price of $12.51 per share.
- He also sold 10,000 shares at $12.65 per share under a pre-arranged Rule 10b5-1 trading plan adopted on June 14, 2023.
- Following these transactions, Buonasera directly owns 258,102 shares of Magnite's common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports stock transactions by an executive, which are part of normal compensation and pre-planned trading.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies. Monitoring these transactions can provide insights into an executive's perspective on the company's valuation and future prospects. Rule 10b5-1 plans are frequently used to allow insiders to sell shares without being accused of trading on non-public information.
Key Dates
| Date | Description |
|---|---|
| June 14, 2023 | Date the Reporting Person adopted a Rule 10b5-1 trading plan |
| August 15, 2024 | Date of stock transactions: disposition of shares for tax obligations and sale under Rule 10b5-1 plan |
| August 16, 2024 | Date of Form 4 filing |
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