Form 4: Marcus & Millichap CEO Hessam Nadji Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
CEO Hessam Nadji of Marcus & Millichap, Inc. sold a total of 1,100 shares of common stock on July 25th and 26th, 2024, under a pre-arranged Rule 10b5-1 sales plan.
Summary
- Hessam Nadji, CEO of Marcus & Millichap, Inc., reported the sale of company stock.
- The transactions occurred on July 25th and 26th, 2024.
- A total of 1,100 shares of common stock were sold.
- The sales were executed under a Rule 10b5-1 sales plan adopted on March 14, 2024.
- The price per share ranged from $40.00 to $40.07 on July 25th and $40.05 to $40.065 on July 26th.
- Following the reported transactions, Nadji directly owns 223,023 shares of Marcus & Millichap, Inc.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing regarding stock sales by an executive, which is neither particularly positive nor negative.
Industry Context
Sales by insiders are a common occurrence and are often pre-planned to avoid accusations of trading on inside information. The Rule 10b5-1 plan allows corporate insiders to sell shares at predetermined times and prices.
Stakeholder Impact
- The stock sale could have a minor impact on shareholder sentiment, but is unlikely to be significant given the relatively small number of shares sold and the existence of the 10b5-1 plan.
Key Dates
| Date | Description |
|---|---|
| 2024/03/14 | Date of adoption of Rule 10b5-1 sales plan. |
| 2024/07/25 | Date of first stock sale. |
| 2024/07/26 | Date of second stock sale. |
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