Form 4: Protagonist Therapeutics CEO Sells 30,000 Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Protagonist Therapeutics' CEO, Dinesh V. Patel, Ph.D., sold 30,000 shares of common stock on March 1, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Dinesh V. Patel, Ph.D., CEO of Protagonist Therapeutics, Inc., reported a transaction involving the sale of company stock.
- On March 1, 2024, Patel sold 30,000 shares of common stock at a weighted average price of $31.62 per share.
- The sale was executed under a Rule 10b5-1 trading plan adopted on March 20, 2023.
- Following the transaction, Patel directly owns 574,590 shares of Protagonist Therapeutics common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment. The document simply reports a stock sale under a pre-arranged trading plan, which is a common practice.
Industry Context
This is a routine disclosure of an insider stock sale. It's common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information. The impact on the stock price is usually minimal unless the sale is unusually large or coincides with other negative news.
Stakeholder Impact
- The stock sale could have a minor negative impact on shareholder sentiment, but it's unlikely to be significant given the pre-planned nature of the transaction.
Key Dates
| Date | Description |
|---|---|
| 03/20/2023 | Date the Reporting Person adopted a Rule 10b5-1 trading plan |
| 03/01/2024 | Date of the stock sale transaction |
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