Form 4: MoneyLion Inc. Chief Accounting Officer Mark Torossian Sells Shares Under 10b5-1 Plan
SEC Form 4
Mark Torossian, Chief Accounting Officer of MoneyLion Inc., sold 328 shares of Class A Common Stock at $80 per share on November 8, 2024, under a pre-arranged trading plan.
Summary
- On November 8, 2024, Mark Torossian, the Chief Accounting Officer of MoneyLion Inc., sold 328 shares of Class A Common Stock.
- The sale was executed at a price of $80 per share.
- This transaction was conducted under a written trading plan adopted on March 12, 2024, designed to comply with Rule 10b5-1(c) of the Securities Exchange Act of 1934.
- Following the transaction, Torossian directly owns 20,409 shares, which includes restricted stock units and performance share units.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing for an insider stock sale, which is neutral in sentiment.
Industry Context
This is a routine disclosure of an insider transaction. It is common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of insider trading.
Stakeholder Impact
- The sale of shares by an executive could be perceived negatively by some shareholders, but the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| March 12, 2024 | Date the Reporting Person adopted the written trading plan. |
| November 08, 2024 | Date of the transaction (stock sale). |
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