Form 4: Palantir Technologies Inc.: Officer Sankar Shyam Reports Stock Transactions

Palantir's Chief Technology Officer, Shyam Sankar, reports converting and selling 50,000 shares of Class A Common Stock under a pre-existing 10b5-1 trading plan.

Summary

• On May 23, 2024, Shyam Sankar, Chief Technology Officer and Executive Vice President of Palantir Technologies Inc., reported transactions involving Class A Common Stock.
• Sankar converted 50,000 shares of Class B Common Stock into Class A Common Stock.
• Immediately following the conversion, Sankar sold 50,000 shares of Class A Common Stock in the open market at an average price of $20.8855, with prices ranging from $20.65 to $21.38.
• These transactions were executed under a pre-existing Rule 10b5-1 trading plan established on August 31, 2023.
• Following the reported transactions, Sankar directly owns 752,786 shares of Class A Common Stock and indirectly owns 749,899 shares through the Sankar Irrevocable Remainder Trust.
• Sankar also holds 2,226,751 shares of Class B Common Stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

This Form 4 filing is a routine disclosure of stock transactions by a company insider, as required by the SEC. It provides transparency into the trading activities of key personnel and their holdings in the company.

Stakeholder Impact

• The stock sale by a key executive could have a minor impact on shareholder sentiment, but the existence of a pre-existing trading plan mitigates concerns about opportunistic trading.

Key Dates