4/A: Q2 Holdings COO John E. Breeden Reports Stock Sales Under 10b5-1 Plan
SEC Form 4/A
John E. Breeden, COO of Q2 Holdings, Inc., reported the sale of company stock on March 13 and 14, 2024, under a pre-arranged 10b5-1 trading plan to cover tax obligations.
Summary
- John E. Breeden, the Chief Operating Officer of Q2 Holdings, Inc., filed an amendment to a Form 4 detailing changes in beneficial ownership.
- The report indicates sales of common stock on March 13, 2024, for $50.1 per share, totaling 2,382 shares.
- A further sale of 3,725 shares occurred on March 14, 2024, at a weighted average price of $49.58 per share, with prices ranging from $49.12 to $50.27.
- These sales were executed under a Rule 10b5-1 trading plan adopted on June 8, 2023, and modified on August 30, 2023.
- The initial filing was amended to reflect additional award shares acquired on March 7, 2024.
- The reported amount was reduced by 14,792 units due to the forfeiture of unearned Market Stock Units from a grant dated March 3, 2021, due to not meeting performance measures.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock sales by an executive. It doesn't inherently convey positive or negative sentiment, as it's a factual disclosure.
Industry Context
This filing is a routine disclosure of stock sales by a company executive and is a common practice among publicly traded companies. The use of a 10b5-1 trading plan allows insiders to sell shares without being accused of trading on non-public information.
Stakeholder Impact
- The stock sales could have a minor impact on shareholders if they perceive it as a lack of confidence by the COO, although the 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 2021-03-03 | Date of Market Stock Unit Grant |
| 2023-06-08 | Date of adoption of Rule 10b5-1 trading plan |
| 2023-08-30 | Date of modification of Rule 10b5-1 trading plan |
| 2024-03-07 | Date of additional award shares acquired |
| 2024-03-13 | Date of first stock sale |
| 2024-03-14 | Date of second stock sale |
| 2024-03-14 | Date of original filing |
| 2024-03-20 | Date of amendment filing |
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