Form 4: Palantir CFO David Glazer Sells Shares to Cover Tax Obligations

Palantir Technologies' CFO, David Glazer, sold shares of Class A Common Stock to cover tax withholding obligations related to the vesting of restricted stock units.

Summary

• On August 20 and 21, 2024, David Glazer, the CFO and Treasurer of Palantir Technologies Inc., sold shares of Class A Common Stock.
• The sales were executed in multiple open market transactions at varying prices.
• These transactions were conducted to cover required tax withholding obligations related to the vesting of restricted stock units.
• All sales were conducted in compliance with Glazer's Rule 10b5-1 trading plan.
• On August 20, 2024, 44,902 shares were sold at a weighted average price of $32.2484, with prices ranging from $31.63 to $32.6177.
• An additional 150 shares were sold on August 20, 2024, at a weighted average price of $32.666, with prices ranging from $32.63 to $32.70.
• On August 21, 2024, 41,969 shares were sold at a weighted average price of $32.2589, with prices ranging from $31.97 to $32.65.
• Following these transactions, Glazer directly owns 210,991 shares of Class A Common Stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The document simply reports stock sales by an executive to cover tax obligations, which is a routine event. The use of a 10b5-1 plan further mitigates any negative interpretation.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating they were planned and not based on immediate market sentiment.

Industry Context

Insider sales are a common occurrence, especially when related to tax obligations from vesting equity. The use of a 10b5-1 plan suggests a structured approach to these transactions.

Comparison to Industry Standards

• It is common for executives at publicly traded companies, including those in the technology sector like Palantir, to utilize 10b5-1 trading plans to manage the sale of company stock.
• These plans help to avoid accusations of insider trading by pre-scheduling trades and ensuring compliance with securities laws.
• Companies like Google (Alphabet Inc.) and Microsoft also see similar patterns of executive stock sales for diversification and tax purposes.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market, but the effect is likely minimal given the relatively small volume of shares sold compared to the company's overall market capitalization.

Key Dates