Form 4: Pulmonx Corp Director Sells Shares Under 10b5-1 Trading Plan

A Pulmonx Corp director, Glendon E. French III, sold a total of 4,547 shares of common stock over two days under a pre-arranged 10b5-1 trading plan.

Summary

• Glendon E. French III, a director at Pulmonx Corp, sold 2,326 shares of common stock on January 16, 2025, at a weighted average price of $6.53.
• He then sold an additional 2,221 shares on January 17, 2025, at a weighted average price of $6.50.
• These sales were executed under a Rule 10b5-1 trading plan adopted on June 10, 2024.
• The total number of shares sold was 4,547.
• Following these transactions, Mr. French directly owns 1,067,427 shares of Pulmonx Corp common stock.

Sentiment

Score: 5

Explanation: The document is a routine filing of insider transactions, which is neither positive nor negative. The sales were made under a pre-arranged plan, so there is no indication of any change in sentiment.

Industry Context

This is a routine filing for insider transactions and is common for directors and officers of publicly traded companies. The use of a 10b5-1 trading plan is a common practice to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of 10b5-1 trading plans is a standard practice among corporate insiders to manage their stock sales while avoiding potential insider trading issues.
• Similar filings are regularly seen across the market for directors and officers of publicly traded companies, such as those at Medtronic, Boston Scientific, and Stryker, who also utilize these plans for stock transactions.

Stakeholder Impact

• The share sales by a director may have a minor negative impact on shareholder sentiment, but the use of a 10b5-1 plan mitigates this concern.

Key Dates

Keywords

Pulmonx Corp, Glendon E. French III, insider trading, Form 4, share sale, 10b5-1 trading plan, director