Form 4: Pure Storage Executive John Colgrove Sells 100,000 Shares Under 10b5-1 Trading Plan
SEC Form 4
John Colgrove, Chief Visionary Officer at Pure Storage, sold 100,000 shares of Class A Common Stock on September 4, 2024, as part of a pre-arranged trading plan.
Summary
- John Colgrove, Chief Visionary Officer of Pure Storage, sold 100,000 shares of Class A Common Stock on September 4, 2024.
- The sale was executed under a Rule 10b5-1 trading plan adopted on April 17, 2024.
- The shares were sold at a weighted average price of $47.41, with individual prices ranging from $46.44 to $47.44.
- Following the transaction, Colgrove directly owns 7,328,207 shares and indirectly owns 600,000 shares through The Colgrove Family Charitable Remainder Trust, 701,959 shares through Colgrove Family Living Trust, 2,765,000 shares through Eric Edward Colgrove Irrevocable Trust, and 2,765,000 shares through Richard Winston Colgrove Irrevocable Trust.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to an executive's stock sale under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.
Industry Context
Executive stock sales are a common occurrence in publicly traded companies and are often part of pre-arranged trading plans to diversify personal holdings or for other financial planning purposes. The market typically views sales under 10b5-1 plans as less impactful than discretionary sales.
Comparison to Industry Standards
- Executive stock sales are a common practice across the tech industry.
- Companies like NetApp, Dell, and Hewlett Packard Enterprise also see regular Form 4 filings from their executives.
- The size of this transaction is not unusual for a high-level executive at a company of Pure Storage's size.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders, but given it's under a 10b5-1 plan, it's unlikely to cause significant concern.
- The transaction does not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| Feb 8, 2011 | Date of Eric Edward Colgrove Irrevocable Trust DTD and Richard Winston Colgrove Irrevocable Trust DTD |
| April 17, 2024 | Date the Rule 10b5-1 trading plan was adopted. |
| 09/04/2024 | Date of the transaction (stock sale). |
| 09/05/2024 | Date of signature on the Form 4 filing. |
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