Form 4: PLAYSTUDIOS CFO Scott Peterson Sells 25,000 Shares Under 10b5-1 Trading Plan
SEC Form 4
PLAYSTUDIOS CFO Scott Edward Peterson sold 25,000 shares of Class A Common Stock at an average price of $1.50, according to a recent SEC filing.
Summary
- Scott Edward Peterson, CFO of PLAYSTUDIOS, Inc., reported a transaction involving the sale of 25,000 shares of Class A Common Stock on October 16, 2024.
- The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on June 13, 2024.
- The shares were sold at prices ranging from $1.47 to $1.53, with a weighted average price of $1.50.
- Following the transaction, Peterson directly owns 583,998 shares and indirectly owns 608,998 shares through a trust, as well as 33,874 shares held by his spouse.
- Peterson also holds derivative securities including restricted stock units (RSUs) for 583,335 shares, performance stock units (PSUs) for 83,333 shares, stock options for 135,945 shares, and earnout shares for 63,358 shares.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard disclosure of stock sales under a pre-arranged trading plan.
Industry Context
This filing is a routine disclosure of insider trading activity. It's common for executives to sell shares under pre-arranged trading plans to avoid accusations of trading on inside information.
Stakeholder Impact
- The stock sale could have a minor negative impact on shareholder sentiment, but the effect is likely to be minimal given the pre-planned nature of the transaction.
Key Dates
| Date | Description |
|---|---|
| February 1, 2021 | Date of the Agreement and Plan of Merger. |
| April 1, 2021 | Date from which some stock options are exercisable. |
| January 1, 2023 | Date from which some stock options are exercisable. |
| March 11, 2024 | Date the Reporting Person was granted 766,669 unvested Restricted Stock Units. |
| May 15, 2024 | Date on which 183,334 Restricted Stock Units vested. |
| June 13, 2024 | Date the reporting person adopted a Rule 10b5-1 trading plan. |
| August 6, 2024 | Date of the Issuer's Quarterly Report on Form 10-Q filing. |
| October 16, 2024 | Date of the reported transaction (stock sale). |
| October 18, 2024 | Date of the signature on the Form 4 filing. |
| May 15, 2025 | Date on which 250,001 Restricted Stock Units will vest. |
| May 15, 2026 | Date on which 166,667 Restricted Stock Units will vest. |
| June 21, 2026 | Date related to the earnout shares. |
| May 15, 2027 | Date on which 166,667 Restricted Stock Units will vest. |
| April 1, 2027 | Expiration date of some stock options. |
| January 1, 2029 | Expiration date of some stock options. |
| December 31, 2024 | Fiscal year end for performance stock unit achievement. |
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