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

Palantir Technologies' CFO, David Glazer, sold shares of Class A Common Stock between May 20 and May 22, 2024, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• David Glazer, CFO of Palantir Technologies, sold shares of Class A Common Stock on May 20, 21, and 22, 2024.
• The sales were executed to cover required tax withholding obligations in connection with the vesting of restricted stock units.
• All sales were conducted under a pre-arranged Rule 10b5-1 trading plan.
• On May 20, 2024, 37,921 shares were sold at a weighted average price of $21.4268, resulting in 140,261 shares beneficially owned following the transaction.
• On May 21, 2024, 31,308 shares were sold at a weighted average price of $21.2405, resulting in 108,953 shares beneficially owned following the transaction.
• On May 22, 2024, 8,336 shares were sold at a weighted average price of $21.2952, resulting in 100,617 shares beneficially owned following the transaction.

Sentiment

Score: 6

Explanation: The document reflects routine executive stock sales for tax purposes, which is a neutral event. The use of a 10b5-1 plan mitigates concerns about insider trading.

Positives

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

Industry Context

Executive stock sales are a common occurrence, especially to cover tax obligations related to equity compensation. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on insider information.

Comparison to Industry Standards

• Executive stock sales are a routine part of compensation in publicly traded companies like Palantir.
• Similar sales are often seen in companies like Snowflake, C3.ai, and other tech firms where stock-based compensation is prevalent.
• The use of Rule 10b5-1 trading plans is a standard practice to avoid accusations of insider trading, aligning with industry best practices.

Stakeholder Impact

• The stock sales could have a minor, temporary impact on the stock price, but the pre-planned nature of the sales should minimize any significant effect.

Key Dates