Form 4: Peter Thiel Sells Palantir Shares Under 10b5-1 Trading Plan

Peter Thiel, a director of Palantir Technologies, sold shares of the company's Class A Common Stock between September 27, 2024, and October 1, 2024, under a pre-existing Rule 10b5-1 trading plan.

Summary

• Peter Thiel, a director at Palantir Technologies, sold shares of Class A Common Stock between September 27, 2024, and October 1, 2024.
• The sales were executed under a pre-existing Rule 10b5-1 trading plan adopted on May 15, 2024.
• On September 27, 2024, he sold 3,989,204 shares at a weighted average price of $36.9432.
• On September 30, 2024, he sold 3,144,945 shares at a weighted average price of $36.8113 and 1,036,173 shares at a weighted average price of $37.2052.
• On October 1, 2024, he sold 3,350,229 shares at a weighted average price of $36.5425 and 891,771 shares at a weighted average price of $37.2663.
• Following these transactions, Thiel still indirectly owns a significant number of Palantir shares through various LLCs: 42,683,569 shares through Rivendell 7 LLC, 39,538,624 shares through Rivendell 7 LLC, 38,502,451 shares through Rivendell 7 LLC, 35,152,222 shares through Rivendell 7 LLC, 34,260,451 shares through Rivendell 7 LLC, 15,733,625 shares through STS Holdings II LLC, 20,823,993 shares through PLTR Holdings LLC, and 53,487 shares through Rivendell 25 LLC.
• The reported sales were executed in multiple trades at varying prices, and Thiel is committed to providing detailed information about the number of shares sold at each price upon request.

Sentiment

Score: 5

Explanation: The sentiment is neutral. It's a routine disclosure of stock sales under a pre-existing trading plan. While large insider sales can sometimes be viewed negatively, the use of a 10b5-1 plan mitigates concerns about opportunistic trading.

Industry Context

Sales by insiders are a common occurrence, especially when executed under pre-arranged trading plans like Rule 10b5-1, which allows insiders to sell shares at predetermined times to avoid accusations of trading on inside information. The market typically analyzes the size and frequency of such sales to gauge potential impact on the stock.

Comparison to Industry Standards

• Comparing Thiel's sales to other major shareholders or executives in similar tech companies, the scale is notable but not uncommon.
• For example, sales by executives at companies like Snowflake or Datadog are often scrutinized similarly when they involve large blocks of shares.
• The use of 10b5-1 plans is a standard practice to provide transparency and avoid insider trading concerns, aligning with industry best practices.

Stakeholder Impact

• The sale of shares by a director could potentially create short-term selling pressure on the stock.
• However, the existence of a pre-arranged trading plan may reassure investors that the sales are not based on negative inside information.

Key Dates