Form 4: MaxLinear CEO Kishore Seendripu Reports Changes in Beneficial Ownership
SEC Form 4
Kishore Seendripu, Chairman, President, and CEO of MaxLinear, reported changes in his beneficial ownership of the company's common stock due to trust transfers.
Summary
- On February 26, 2024, Kishore Seendripu reported changes in his beneficial ownership of MaxLinear, Inc. common stock.
- The changes involve the transfer of shares to and from various trusts, including family trusts, heritage trusts, and annuity trusts.
- Seendripu serves as a trustee or co-trustee for several of these trusts.
- He disclaims beneficial ownership of shares held by certain trusts for his children, except to the extent of his pecuniary interest.
- Following the reported transactions, Seendripu directly owns 675,107 shares of common stock.
- He also indirectly owns shares through various trusts, with amounts varying from 18,920 to 1,023,634 shares per trust.
Sentiment
Score: 5
Explanation: This is a neutral filing, simply reporting changes in beneficial ownership. It doesn't inherently indicate positive or negative sentiment.
Industry Context
This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their stock ownership and transactions. It's common for executives to manage their holdings through trusts for estate planning purposes.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the CEO's stock ownership.
- It may influence investor perception of management's commitment to the company.
Key Dates
| Date | Description |
|---|---|
| 10/5/09 | Date of the Seendripu Family Trust and Seendripu Relatives Trust |
| 07/13/2020 | Date of the SS Heritage Trust and IKS Heritage Trust |
| 07/14/2023 | Date of the Ishan Krishna Seendripu Trust #2, Samira Seendripu Trust #2, SS Heritage Trust #2, and IKS Heritage Trust #2 |
| 02/26/2024 | Date of the reported transactions |
| 02/28/2024 | Date of signature by Attorney-in-Fact |
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