Form 4: ON24 CFO Steven Vattuone Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
ON24's Chief Financial Officer, Steven Vattuone, executed multiple sales of common stock between March 11 and March 13, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Steven Vattuone, the CFO of ON24, sold shares of the company's common stock over three days in March.
- The sales occurred on March 11, 12, and 13, 2024.
- These transactions were executed under a Rule 10b5-1 trading plan adopted on September 14, 2023.
- On March 11, 5,115 shares were sold at a weighted average price of $6.6807, with individual transactions ranging from $6.61 to $6.81.
- On March 12, 12,031 shares were sold at a weighted average price of $6.6215, with individual transactions ranging from $6.56 to $6.70.
- On March 13, 9,314 shares were sold at a weighted average price of $6.6223, with individual transactions ranging from $6.57 to $6.67.
- Following these transactions, Vattuone directly owns 364,189 shares of ON24 common stock.
Sentiment
Score: 5
Explanation: The document is a standard Form 4 filing, indicating insider selling under a pre-arranged plan. It doesn't inherently convey positive or negative sentiment, but the selling activity itself could be interpreted neutrally to slightly negatively.
Industry Context
Sales by company executives are a normal part of corporate governance, especially when executed under pre-arranged trading plans like Rule 10b5-1. These plans allow insiders to sell shares over a period of time without being accused of trading on non-public information.
Stakeholder Impact
- Shareholders may react to the news of the CFO selling shares, although the pre-planned nature of the sales mitigates potential concerns.
Key Dates
| Date | Description |
|---|---|
| 2021/12/21 | Date of execution of Power of Attorney for Section 16 reporting purposes. |
| 2023/09/14 | Date the reporting person adopted the Rule 10B5-1 trading plan. |
| 2024/03/11 | Date of first reported transaction: sale of 5,115 shares. |
| 2024/03/12 | Date of second reported transaction: sale of 12,031 shares. |
| 2024/03/13 | Date of third reported transaction: sale of 9,314 shares. |
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