Form 4: Meta Platforms Chief Product Officer Sells 10,000 Shares Under 10b5-1 Plan

Meta Platforms' Chief Product Officer, Christopher K. Cox, sold 10,000 shares of Class A Common Stock at an average price of $360.0172 per share on December 28, 2023, under a pre-arranged trading plan.

Summary

• Christopher K. Cox, Chief Product Officer of Meta Platforms, Inc., sold 10,000 shares of Class A Common Stock on December 28, 2023.
• The sale was executed at a weighted average price of $360.0172 per share.
• The transactions occurred within a price range of $360.00 to $360.275 per share.
• The sale was conducted under a Rule 10b5-1 trading plan adopted on August 2, 2023.
• Following the transaction, Mr. Cox directly owns 306,683 shares and indirectly owns 55,046 shares through trusts.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to an executive's stock sale under a pre-arranged plan. It does not indicate any positive or negative sentiment about the company's performance.

Industry Context

This is a routine filing related to insider trading activity. It is common for executives to use 10b5-1 plans to sell shares to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of Rule 10b5-1 trading plans is a common practice among executives at publicly traded companies, including Meta's peers such as Alphabet (Google), Amazon, and Apple.
• These plans allow executives to sell shares at predetermined times and prices, mitigating the risk of insider trading allegations.
• The reported sale by Christopher K. Cox is consistent with standard practices for executive stock transactions.

Stakeholder Impact

• The sale of shares by a high-ranking executive may cause some minor concern among shareholders, but the pre-arranged nature of the sale should mitigate any significant impact.

Key Dates

Keywords

Meta Platforms, Christopher K. Cox, insider trading, SEC Form 4, Rule 10b5-1, stock sale, Class A Common Stock, executive compensation