Form 4: Micron Technology CEO Sanjay Mehrotra Executes Stock Options and Sells Shares Under 10b5-1 Plan

Micron Technology's CEO, Sanjay Mehrotra, executed stock options and sold shares of common stock under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On April 2, 2024, and April 4, 2024, Sanjay Mehrotra, the CEO and President of Micron Technology, exercised non-qualified stock options and sold shares of Micron Technology common stock.
• The transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on May 15, 2023.
• On April 2, 2024, Mehrotra exercised options for 7,000 shares at a price of $28.20 and sold 6,112 shares at a weighted average price of $122.01 and 888 shares at a weighted average price of $122.68.
• On April 4, 2024, Mehrotra exercised options for 30,000 shares at a price of $28.20 and sold 45,000 shares at $130.
• Following these transactions, Mehrotra directly owns 728,557 shares of common stock and indirectly owns 371,629 shares through a grantor retained annuity trust (GRAT).
• He also directly owns 134,284 non-qualified stock options.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of stock transactions. It doesn't inherently indicate positive or negative sentiment about the company's performance.

Industry Context

This filing is a routine disclosure of insider transactions and is common for executives of publicly traded companies. The use of a 10b5-1 plan allows insiders to sell shares without being accused of trading on non-public information.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the use of a 10b5-1 plan suggests the transactions were planned and not based on any sudden change in the company's outlook.

Key Dates