Form 4: Ross Stores COO Michael Hartshorn Sells 21,056 Shares Under 10b5-1 Plan

Michael J. Hartshorn, Group President and COO of Ross Stores, Inc., sold 21,056 shares of common stock on March 18, 2024, under a pre-established 10b5-1 trading plan.

Summary

• On March 18, 2024, Michael J. Hartshorn, the Group President and COO of Ross Stores, Inc., sold 21,056 shares of the company's common stock.
• The sale was executed under a pre-established 10b5-1 trading plan that was put in place on October 6, 2023.
• The shares were sold at a weighted average price of $145.14, with individual transactions ranging from $144.415 to $145.53.
• Following the transaction, Hartshorn directly owns 114,488 shares of Ross Stores, Inc.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to an executive stock sale under a pre-existing plan, suggesting a neutral sentiment.

Industry Context

Executive stock sales are a common occurrence and are often part of pre-planned diversification strategies. The use of a 10b5-1 plan suggests the sale was planned in advance to avoid accusations of insider trading.

Stakeholder Impact

• The stock sale by a high-ranking executive could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates