Form 4: PagerDuty CFO Howard Wilson Sells Shares Under 10b5-1 Trading Plan

PagerDuty's Chief Financial Officer, Howard Wilson, sold 12,108 shares of common stock on July 10, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On July 10, 2024, Howard Wilson, the Chief Financial Officer of PagerDuty, Inc., sold 12,108 shares of the company's common stock.
• The sale was executed under a 10b5-1 trading plan adopted on April 10, 2024.
• The shares were sold at a weighted average price of $20.49, with individual transactions ranging from $20.18 to $21.12 per share.
• Following the transaction, Wilson directly owns 594,202 shares and indirectly owns 50 shares through his spouse.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to an executive stock sale under a pre-arranged trading plan. It doesn't inherently indicate positive or negative sentiment, as it's a routine transaction.

Industry Context

Sales by executives are a normal part of corporate governance. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on inside information at the time of the transaction.

Comparison to Industry Standards

• Executive stock sales are common across the tech industry.
• Companies like Atlassian and ServiceNow also see regular stock transactions by their executives.
• The use of 10b5-1 plans is a standard practice to avoid accusations of insider trading, aligning with practices seen at companies like Salesforce and Microsoft.

Stakeholder Impact

• The stock sale may have a minor impact on shareholder sentiment, but is unlikely to cause significant concern given the use of a 10b5-1 plan.
• The transaction does not directly impact employees, customers, suppliers, or creditors.

Key Dates