Form 4: Palantir Executive Stephen Cohen Sells Shares Under 10b5-1 Plan

Palantir Technologies' President and Secretary, Stephen Cohen, executed multiple sales of Class A common stock between December 11th and 13th, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Stephen Cohen, President and Secretary of Palantir Technologies, sold a significant number of Class A common stock shares between December 11th and 13th, 2024.
• The sales were executed under a pre-arranged Rule 10b5-1 trading plan established on September 11, 2024.
• Cohen converted Class B common stock to Class A common stock before selling the Class A shares.
• On December 11th, 450,000 Class B shares were converted and sold in multiple transactions at prices ranging from $68.16 to $72.92.
• On December 12th, another 450,000 Class B shares were converted and sold at prices ranging from $72.00 to $75.36.
• On December 13th, 416,053 Class B shares were converted and sold at prices ranging from $72.47 to $76.06.
• The total number of Class A shares sold was 1,416,053.
• The weighted average sale prices for each day's transactions are detailed in the document.

Sentiment

Score: 5

Explanation: The document is neutral in sentiment as it reports routine insider trading activity under a pre-arranged plan. There is no indication of positive or negative news, just a factual report of transactions.

Risks

• Large sales by insiders can sometimes be perceived negatively by the market, potentially impacting the stock price.
• The reliance on a 10b5-1 plan suggests the executive may continue to sell shares in the future.

Future Outlook

The document does not provide any forward-looking statements or guidance, but the existence of a 10b5-1 plan suggests that further sales by the reporting person may occur.

Management Comments

• The document notes that this Form 4 is not intended to disclose all shares owned by the Reporting Person.
• For additional details regarding the Reporting Person's overall stock and equity holdings, please see the Issuer's Proxy Statement filed with the Securities and Exchange Commission on April 26, 2024.

Industry Context

This is a routine filing related to insider trading activity. It is common for executives to use 10b5-1 plans to manage their stock sales, and this filing is consistent with standard practice.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a common practice among executives at publicly traded companies, including those in the technology sector like Palantir.
• Companies such as Google (Alphabet), Microsoft, and Amazon also have executives who utilize 10b5-1 plans for stock sales.
• The volume of shares sold by Stephen Cohen is not unusual for an executive at his level, but the market reaction will depend on the overall sentiment towards the company.
• The price ranges at which the shares were sold are within the typical trading range for Palantir stock during the period.

Stakeholder Impact

• The sales may have a minor impact on the stock price, but the use of a 10b5-1 plan suggests the sales were planned and not a reaction to any specific company news.
• Shareholders may be interested in the details of the transactions, but the overall impact is likely to be minimal.

Key Dates

Keywords

Palantir, PLTR, insider trading, Form 4, 10b5-1 plan, stock sale, Stephen Cohen, Class A Common Stock, Class B Common Stock