Form 4: Pure Storage CRO Executes Pre-Planned Stock Sales and Tax Withholding

Pure Storage Chief Revenue Officer Dan FitzSimons reported the sale of 6,000 shares of Class A Common Stock under a Rule 10b5-1 trading plan and the withholding of 7,386 shares for tax obligations in June 2025.

Summary

• Dan FitzSimons, Chief Revenue Officer of Pure Storage, Inc. (PSTG), filed a Form 4 detailing recent changes in his beneficial ownership of company stock.
• On June 20, 2025, 7,386 shares of Class A Common Stock were withheld by Pure Storage at a price of $52.87 per share to satisfy income tax withholding and remittance obligations related to the vesting and net settlement of Mr. FitzSimons' equity awards. This transaction did not represent a sale by the Reporting Person.
• On June 23, 2025, Mr. FitzSimons sold 5,225 shares of Class A Common Stock at a weighted average price of $51.59 per share. These shares were sold in multiple transactions with prices ranging from $51.02 to $52.01.
• Also on June 23, 2025, an additional 775 shares of Class A Common Stock were sold at a weighted average price of $52.03 per share, with prices ranging from $52.02 to $52.05.
• Both sales on June 23, 2025, totaling 6,000 shares, were conducted pursuant to a Rule 10b5-1 trading plan that Mr. FitzSimons adopted on January 16, 2025.
• Following these reported transactions, Mr. FitzSimons beneficially owns 75,965 shares of Pure Storage Class A Common Stock.

Sentiment

Score: 5

Explanation: Neutral. Insider sales under a Rule 10b5-1 plan are typically viewed as routine liquidity management and are less indicative of negative sentiment compared to unplanned sales. The tax withholding is also a standard administrative event related to equity compensation.

Positives

• The sales of Class A Common Stock were executed under a pre-arranged Rule 10b5-1 trading plan, which indicates a planned liquidity event rather than a reaction to recent company performance or market conditions, potentially mitigating negative market interpretation.

Negatives

• The transactions represent a reduction in the direct equity stake of a key executive, Dan FitzSimons, in Pure Storage.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding Pure Storage's future outlook.

Industry Context

This Form 4 filing is specific to an insider's stock transactions and does not provide broader industry context or trends for the data storage or technology sector.

Related Party Transactions

• 7,386 shares of Class A Common Stock were withheld by Pure Storage (the Issuer) to satisfy its income tax withholding and remittance obligations in connection with the vesting and net settlement of the Reporting Person's equity awards.

Stakeholder Impact

• Shareholders: The sale of shares by a key executive, even if pre-planned, slightly reduces the executive's direct alignment with shareholder interests through equity ownership. However, the Rule 10b5-1 plan mitigates concerns about the timing of the sale.
• Employees: No direct impact on employees is indicated by this filing.

Key Dates

Keywords

Pure Storage, PSTG, SEC Form 4, Insider Trading, Stock Sale, Dan FitzSimons, Chief Revenue Officer, Rule 10b5-1 Plan, Equity Awards, Tax Withholding