Form 4: Matson Inc. EVP & CFO Joel M. Wine Sells Shares Under 10b5-1 Trading Plan

Joel M. Wine, EVP & CFO of Matson, Inc., sold a total of 8,000 shares of common stock on July 25, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On July 25, 2024, Joel M. Wine, the EVP & CFO of Matson, Inc. (MATX), sold 8,000 shares of the company's common stock.
• The sales were executed in multiple transactions at varying prices, ranging from $127.51 to $130.70 per share.
• The weighted average sale prices for the transactions were $130.64, $129, $130.06, and $128.04.
• These sales were conducted under a Rule 10b5-1 trading plan adopted on February 22, 2024.
• Following these transactions, Wine directly owns 106,974 shares of Matson, Inc. common stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports the sale of shares under a pre-existing trading plan, which is a common practice.

Industry Context

Insider sales are common and can be for various reasons, including diversification or personal financial planning. The use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on current inside information.

Stakeholder Impact

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

Key Dates