Form 4: Palantir Technologies Executive Sells Shares to Cover Tax Obligations

Stephen Andrew Cohen, a Palantir Technologies executive, sold shares of Class A Common Stock to cover tax withholding obligations related to the vesting of restricted stock units.

Summary

• Stephen Andrew Cohen, President and Secretary of Palantir Technologies, reported the sale of Class A Common Stock on May 20, 2024, May 21, 2024, and May 22, 2024.
• The sales were executed to cover required tax withholding obligations in connection with the vesting of restricted stock units (RSUs).
• On May 20, 2024, 170,584 shares were converted from Class B to Class A Common Stock and sold at a weighted average price of $21.4268.
• On May 21, 2024, 140,838 shares were converted from Class B to Class A Common Stock and sold at a weighted average price of $21.2405.
• On May 22, 2024, 37,501 shares were converted from Class B to Class A Common Stock and sold at a weighted average price of $21.2952.
• The reporting person also acquired rights to 675,000 shares of Class B Common Stock upon incremental vesting of previously granted RSUs on May 20, 2024.
• Following these transactions, Cohen directly owns 592 shares of Class A Common Stock and 12,862,476 shares of Class B Common Stock.

Sentiment

Score: 5

Explanation: The document reflects routine transactions related to stock vesting and tax obligations, with no indication of positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading activities.
• Similar filings are common among executives at comparable companies like Snowflake (SNOW) and C3.ai (AI), reflecting routine stock transactions.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to significantly affect the company's operations or financial condition.

Key Dates