Form 4: Nuvalent Director Matthew Shair Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Matthew Shair, a director at Nuvalent, Inc., sold shares of Class A Common Stock on April 15, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On April 15, 2024, Matthew Shair, a director of Nuvalent, Inc., sold 25,600 shares of Class A Common Stock at a weighted average price of $65.27 and 11,900 shares at a weighted average price of $66.17.
- These transactions were executed under a Rule 10b5-1 trading plan adopted on December 21, 2023.
- Following these transactions, Shair directly owns 1,574,698 shares of Class A Common Stock and indirectly owns 238,522 shares through the Matthew D. Shair 2021 Irrevocable Family Trust.
Sentiment
Score: 5
Explanation: The Form 4 filing itself is a neutral event. It simply reports transactions. The sentiment is neutral as it reflects routine selling under a pre-arranged plan.
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 |
|---|---|
| 12/21/2023 | Date of adoption of Rule 10b5-1 trading plan |
| 04/15/2024 | Date of share sale transactions |
| 04/17/2024 | Date of Form 4 filing |
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