Form 4: ON24 Inc. Executive James Blackie Executes Stock Sales Under 10b5-1 Plan
SEC Form 4
James Blackie, Chief Revenue Officer of ON24 Inc., sold shares of common stock between September 5th and September 9th, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- James Blackie, the Chief Revenue Officer of ON24 Inc., reported the sale of common stock between September 5th and September 9th, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on September 14, 2023.
- A total of 5,818 shares were sold across multiple transactions at weighted average prices ranging from $5.84 to $6.215.
- The transactions resulted in a decrease in Blackie's direct ownership of ON24 Inc. common stock, with the remaining holdings totaling 427,176 shares.
- Some of the sales were to cover tax withholding obligations related to the vesting of restricted stock units.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transactions were pre-planned under a 10b5-1 trading plan and do not necessarily reflect a change in the executive's outlook on the company.
Industry Context
Executive stock sales are a common occurrence, and the use of 10b5-1 plans allows insiders to sell shares without being accused of acting on non-public information. The market will often look at the ratio of buys to sells to determine sentiment.
Stakeholder Impact
- The stock sales could have a minor negative impact on shareholder sentiment, although the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 12/21/2021 | Date of execution for the Power of Attorney document. |
| 04/01/2022 | Effective date of the Power of Attorney. |
| 09/14/2023 | Date the reporting person adopted the Rule 10b5-1 trading plan. |
| 09/05/2024 | Date of the earliest stock transaction reported. |
| 09/06/2024 | Date of stock transaction reported. |
| 09/09/2024 | Date of the latest stock transaction reported. |
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