Form 4: MoneyLion Inc. CLO Adam VanWagner Sells Shares Under 10b5-1 Trading Plan

MoneyLion Inc.'s Chief Legal Officer, Adam VanWagner, sold a total of 2,994 shares of Class A Common Stock under a pre-arranged 10b5-1 trading plan.

Summary

• Adam VanWagner, the Chief Legal Officer and Secretary of MoneyLion Inc., sold 2,994 shares of Class A Common Stock on November 18, 2024.
• The sales were executed under a pre-arranged trading plan adopted on May 24, 2024, designed to comply with Rule 10b5-1(c) of the Securities Exchange Act of 1934.
• The shares were sold in multiple transactions at weighted average prices of $78.4744, $79.5699, and $80.6931 per share.
• Following these transactions, VanWagner beneficially owns 90,635 shares of Class A Common Stock, which includes restricted stock units and performance share units.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of insider trading activity under a pre-arranged plan, which is neither positive nor negative for the company's outlook.

Industry Context

This is a routine disclosure of insider trading activity, which is common for publicly traded companies. The use of a 10b5-1 trading plan is a standard practice to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a common practice among executives at publicly traded companies, such as those in the financial technology sector like SoFi Technologies or Upstart Holdings.
• These plans allow insiders to sell shares at predetermined times and prices, mitigating the risk of insider trading allegations.
• The reported transactions are consistent with standard SEC reporting requirements for insider sales.

Stakeholder Impact

• The share sales by an executive may have a minor impact on shareholder sentiment, but the use of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates

Keywords

MoneyLion Inc., Adam VanWagner, insider trading, Form 4, 10b5-1 trading plan, Class A Common Stock, securities, share sale