Form 4: Micron CEO Sanjay Mehrotra Executes Stock Options and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Micron Technology's CEO, Sanjay Mehrotra, exercised stock options and sold shares of common stock on February 27, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On February 27, 2024, Sanjay Mehrotra, the CEO and President of Micron Technology, exercised non-qualified stock options to acquire 7,000 shares of common stock at a price of $28.20 per share.
- Simultaneously, Mehrotra sold 4,067 shares at a weighted average price of $91.09 and 2,933 shares at a weighted average price of $92.17.
- These transactions were executed automatically under a Rule 10b5-1 trading plan adopted on May 15, 2023.
- Following these transactions, Mehrotra directly owns 788,557 shares of Micron Technology common stock and indirectly owns 371,629 shares through a grantor retained annuity trust (GRAT).
- He also holds 289,284 non-qualified stock options.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions under a pre-existing plan. It doesn't inherently indicate positive or negative sentiment about the company's future.
Positives
- The transactions were executed under a pre-arranged 10b5-1 trading plan, indicating a planned and transparent approach to stock sales.
Industry Context
Insider transactions are common in publicly traded companies and are closely monitored by regulators and investors for compliance with securities laws. The use of 10b5-1 trading plans is a common practice to avoid accusations of insider trading.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the pre-planned nature of the sales mitigates concerns about insider information being used.
Key Dates
| Date | Description |
|---|---|
| 2023/05/15 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| 2024/02/27 | Date of the stock option exercise and stock sales |
| 2024/02/29 | Date of signature of the Form 4 filing |
| 2025/05/08 | Expiration date of the Non-qualified Stock Options |
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