Form 4: MoneyLion Inc. Chief Accounting Officer Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Mark Torossian, Chief Accounting Officer of MoneyLion Inc., sold 1,018 shares of Class A Common Stock at $81.71 per share on June 11, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- On June 11, 2024, Mark Torossian, the Chief Accounting Officer of MoneyLion Inc., sold 1,018 shares of Class A Common Stock.
- The sale was executed at a price of $81.71 per share.
- This transaction was conducted under a pre-arranged written trading plan, compliant with Rule 10b5-1(c) of the Securities Exchange Act of 1934.
- Following the transaction, Torossian beneficially owns 22,206 shares, including restricted stock units and performance share units.
Sentiment
Score: 5
Explanation: The document reports a routine transaction (sale of shares under a pre-existing plan) by a company officer, which is neither particularly positive nor negative.
Industry Context
Sales by company insiders are a common occurrence and are often pre-planned to avoid accusations of insider trading. Rule 10b5-1 plans allow insiders to sell shares at predetermined times and prices.
Key Dates
| Date | Description |
|---|---|
| March 12, 2024 | Date the Reporting Person adopted the Rule 10b5-1(c) trading plan |
| June 11, 2024 | Date of the transaction (sale of shares) |
| June 12, 2024 | Date of signature for the Form 4 filing |
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