Form 4: NetScout Systems Executive John Downing Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
John Downing, EVP of World-Wide Sales at NetScout Systems, sold 4,247 shares of common stock at $20 per share on August 15, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- On August 15, 2024, John Downing, the EVP of World-Wide Sales at NetScout Systems, Inc. (NTCT), sold 4,247 shares of the company's common stock.
- The sale was executed at a price of $20 per share.
- Following the transaction, Downing directly owns 131,590 shares of NetScout Systems, Inc.
- The sale was conducted under a pre-arranged 10b5-1 trading plan adopted on March 7, 2024.
- A power of attorney document was also filed, authorizing Jeff Levinson, Jean Bua, and Greg Sloan to act on Downing's behalf for Section 16 filings.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports a stock sale under a pre-arranged plan, which is a common practice.
Industry Context
Sales by executives are a common occurrence and are often planned in advance to avoid any appearance of insider trading. The use of a 10b5-1 plan allows insiders to sell shares at predetermined times and prices.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders due to the increased supply of shares in the market, but the effect is likely minimal given the relatively small number of shares sold.
Key Dates
| Date | Description |
|---|---|
| March 7, 2024 | Date the Reporting Person adopted the 10b5-1 plan |
| June 20, 2024 | Date of Power of Attorney execution |
| August 15, 2024 | Date of the stock sale transaction |
| August 16, 2024 | Date of Form 4 filing |
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