Form 4: Northern Oil & Gas President Adam Dirlam Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Adam Dirlam, President of Northern Oil & Gas, sold shares of common stock on May 1, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- Adam A. Dirlam, President of Northern Oil & Gas, Inc. (NOG), reported changes in beneficial ownership of the company's stock.
- On May 1, 2024, Dirlam sold 1,392 shares of common stock at a price of $40.99 per share.
- The sale was executed under a Rule 10b5-1 trading plan adopted on June 21, 2023.
- Following the transaction, Dirlam directly owns 110,412 shares of NOG common stock.
- Dirlam's spouse indirectly owns 18,135 shares of NOG common stock.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing related to stock sales by an insider under a pre-arranged trading plan. It doesn't inherently indicate positive or negative sentiment.
Industry Context
Sales by company insiders are a common occurrence and are often pre-planned to avoid accusations of insider trading. The use of a 10b5-1 trading plan allows insiders to sell shares at predetermined times and prices.
Key Dates
| Date | Description |
|---|---|
| 06/21/2023 | Date of adoption of Rule 10b5-1 trading plan |
| 05/01/2024 | Date of stock sale transaction |
| 05/03/2024 | Date of Form 4 filing |
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