Form 4: Mission Produce Director Jay A. Pack Sells Shares Under 10b5-1 Plan
SEC Filing
Director Jay A. Pack of Mission Produce, Inc. reports selling shares of common stock through a pre-arranged 10b5-1 trading plan.
Summary
- Jay A. Pack, a director at Mission Produce, Inc., filed a Form 4 detailing changes in beneficial ownership.
- The report indicates sales of common stock on September 18, 2024, September 19, 2024 and September 20, 2024.
- On September 18, 2024, 5,603 shares were sold at $13.49 per share.
- On September 19, 2024, 44,397 shares were sold at an average weighted price of $13.51, with prices ranging from $13.49 to $13.57.
- On September 20, 2024, 22,000 shares were sold at an average weighted price of $13.41, with prices ranging from $13.25 to $13.53.
- These transactions were executed under a 10b5-1 trading plan adopted on April 3, 2024.
- Following these transactions, Jay A. Pack indirectly owns 1,115,160 shares through PFP Investments, Ltd., 123,136 shares as trustee to the JP 2018 GRAT, 158,524 shares as trustee to the RP 2018 GRAT, and directly owns 384,823 shares.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting stock sales by a company director under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.
Industry Context
Sales by insiders are a common occurrence, and the use of a 10b5-1 plan suggests the sales were pre-planned and not based on any specific non-public information.
Stakeholder Impact
- The stock sales could have a minor negative impact on shareholder sentiment, but the use of a 10b5-1 plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 04/03/2024 | Date of adoption of the 10b5-1 trading plan |
| 09/18/2024 | Date of first reported transaction (sale of 5,603 shares) |
| 09/19/2024 | Date of second reported transaction (sale of 44,397 shares) |
| 09/20/2024 | Date of third reported transaction (sale of 22,000 shares) |
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