Form 4: Meta Platforms COO Javier Olivan Sells 490 Shares Under 10b5-1 Plan
SEC Form 4 Filing
Meta Platforms' Chief Operating Officer, Javier Olivan, sold 490 shares of Class A Common Stock at a price of $441.54 per share on April 26, 2024, as part of a pre-arranged trading plan.
Summary
- Javier Olivan, the Chief Operating Officer of Meta Platforms, sold 490 shares of Class A Common Stock on April 26, 2024.
- The sale was executed at a price of $441.54 per share.
- This transaction was conducted under a Rule 10b5-1 trading plan that was adopted on August 30, 2023.
- Following the transaction, Mr. Olivan directly owns 6,599 shares.
- He also indirectly owns shares through various entities including Olivan D LLC, Olivan Reinhold D LLC, Reinhold D LLC, and the Olivan Reinhold Family Revocable Trust.
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 10b5-1 trading plans is a common practice among executives at publicly traded companies, including those in the technology sector like Apple, Google (Alphabet), and Microsoft.
- These plans allow executives to sell shares at predetermined times and prices, mitigating the risk of insider trading allegations.
- The volume of shares sold by Javier Olivan is relatively small compared to the total outstanding shares of Meta Platforms, and is not unusual for executives at this level.
Stakeholder Impact
- The sale of shares by an executive may have a minor impact on shareholder sentiment, but is unlikely to have a significant effect on the stock price due to the pre-arranged nature of the sale.
Key Dates
| Date | Description |
|---|---|
| 2023-08-30 | Date the Rule 10b5-1 trading plan was adopted by Javier Olivan. |
| 2024-04-26 | Date of the stock sale transaction. |
| 2024-04-30 | Date the SEC Form 4 was signed. |
Keywords
Meta Platforms, Javier Olivan, insider trading, Rule 10b5-1, stock sale, Class A Common Stock, SEC Form 4
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