Form 4: PagerDuty Chief Legal and People Officer Sells Shares Under 10b5-1 Plan

Shelley Webb, Chief Legal and People Officer at PagerDuty, sold 7,879 shares of common stock at an average price of $18.19, as part of a pre-arranged 10b5-1 trading plan.

Summary

• Shelley Webb, the Chief Legal and People Officer of PagerDuty, sold 7,879 shares of the company's common stock on January 6, 2025.
• The sale was executed under a pre-arranged 10b5-1 trading plan adopted on July 10, 2024.
• The shares were sold at a weighted average price of $18.19, with individual transaction prices ranging from $18.02 to $18.40.
• Following the transaction, Webb directly owns 199,122 shares of PagerDuty common stock, some of which are restricted stock units.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing for an insider stock sale under a pre-arranged plan, which is neither positive nor negative for the company's outlook.

Risks

• Sales by company officers can sometimes be perceived negatively by the market, although this sale was pre-planned.

Industry Context

This is a routine filing related to insider trading activity and is common for executives who have pre-arranged trading plans. It does not indicate any specific change in the company's performance or outlook.

Comparison to Industry Standards

• Sales by executives under 10b5-1 plans are a common practice across publicly traded companies, including PagerDuty's competitors in the software and IT services sector.
• Companies like Atlassian, Datadog, and Splunk also have executives who utilize 10b5-1 plans for stock transactions.
• The volume and price range of this sale are within typical ranges for such transactions.

Stakeholder Impact

• The sale may have a minor impact on shareholder sentiment, but it is unlikely to significantly affect the stock price given the pre-planned nature of the transaction.

Key Dates

Keywords

PagerDuty, insider trading, Form 4, stock sale, 10b5-1 plan, Shelley Webb, executive compensation, equity securities