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

Peter Thiel, a director of Palantir Technologies, sold shares of the company's Class A Common Stock between May 8 and May 10, 2024, under a pre-existing Rule 10b5-1 trading plan.

Summary

• Peter Thiel, a director of Palantir Technologies Inc., reported the sale of Class A Common Stock over three days in May 2024.
• The sales were executed under a pre-existing Rule 10b5-1 trading plan adopted on December 12, 2023.
• On May 8, 2024, 6,285,833 shares were sold at a weighted average price of $21.3303.
• On May 9, 2024, 1,669,411 shares were sold at a weighted average price of $21.2601.
• On May 10, 2024, 5,000,000 shares were sold at a weighted average price of $20.784.
• The sales were executed in multiple trades at varying prices within specified ranges, and Thiel will provide detailed price information upon request.
• After these transactions, Thiel continues to indirectly own a significant number of shares through various LLCs, including Rivendell 7 LLC, STS Holdings II LLC, PLTR Holdings LLC, and Rivendell 25 LLC.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports transactions under a pre-existing trading plan, without indicating any positive or negative implications for the company's performance.

Industry Context

Insider sales are a common occurrence, especially for individuals holding significant equity positions in publicly traded companies; the use of 10b5-1 plans allows insiders to sell shares over a period of time while mitigating concerns about trading on non-public information.

Stakeholder Impact

• The sale of shares by a director could potentially create short-term downward pressure on the stock price, impacting shareholders.
• However, the existence of a pre-existing trading plan may mitigate concerns about the reasons for the sale.

Key Dates