Form 4: Rivian CFO Claire McDonough Executes Stock Transactions Under 10b5-1 Plan
SEC Form 4 Filing
Rivian's Chief Financial Officer, Claire McDonough, engaged in stock transactions, including a sale of 3,210 shares, under a pre-arranged 10b5-1 trading plan.
Summary
- Claire McDonough, the Chief Financial Officer of Rivian Automotive, Inc., reported transactions involving the company's Class A Common Stock.
- On November 15, 2024, 10,954 shares were withheld by Rivian to cover tax obligations related to the vesting of 26,761 Restricted Stock Units.
- The price per share for the tax withholding was $10.31, which was the closing price on November 14, 2024.
- On November 18, 2024, Ms. McDonough sold 3,210 shares at a price of $10.03 per share.
- These transactions were executed under a Rule 10b5-1 trading plan adopted on August 16, 2024.
- Following these transactions, Ms. McDonough directly owns 378,498 shares of Rivian Class A Common Stock.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock transactions by a company insider, which is neither positive nor negative. It is a standard regulatory filing.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, which is common in the corporate world. The use of a 10b5-1 trading plan is a standard practice to avoid accusations of insider trading.
Comparison to Industry Standards
- The use of 10b5-1 trading plans is a common practice among executives at publicly traded companies, including those in the automotive and technology sectors, such as Tesla and Lucid.
- These plans allow insiders to sell shares at predetermined times and prices, mitigating the risk of insider trading allegations.
- The reported transactions are typical for executives managing their personal finances and equity compensation.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are part of a pre-arranged trading plan and do not indicate a change in the company's fundamentals.
Key Dates
| Date | Description |
|---|---|
| 08/16/2024 | Date the 10b5-1 trading plan was adopted by the reporting person. |
| 11/14/2024 | Closing price of Rivian stock used for tax withholding calculations. |
| 11/15/2024 | Date of tax withholding of 10,954 shares. |
| 11/18/2024 | Date of sale of 3,210 shares. |
| 11/19/2024 | Date the Form 4 was signed. |
Keywords
Rivian, RIVN, Claire McDonough, CFO, stock transaction, Form 4, 10b5-1 plan, insider trading, equity securities, tax withholding
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