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

Michael Hartshorn, Group President and COO of Ross Stores, Inc., sold 19,014 shares of common stock on March 27, 2024, under a pre-established 10b5-1 trading plan.

Summary

• Michael J. Hartshorn, the Group President and COO of Ross Stores, Inc., sold 19,014 shares of common stock on March 27, 2024.
• The sale was executed under a pre-established 10b5-1 trading plan entered into on October 6, 2023.
• The shares were sold at a weighted average price of $146.3916, with individual transactions ranging from $145.44 to $146.89.
• Following the transaction, Hartshorn directly owns 119,962 shares of Ross Stores, Inc. common stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to an executive's stock sale under a pre-established plan. It doesn't inherently indicate positive or negative sentiment about the company's performance.

Industry Context

Sales by executives are a normal part of corporate governance. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on any inside information.

Comparison to Industry Standards

• Executive stock sales are common across publicly traded companies, including competitors like TJX Companies (TJX) and Burlington Stores (BURL).
• The use of 10b5-1 plans is a standard practice to avoid accusations of insider trading, aligning with practices at companies like Walmart (WMT) and Target (TGT).

Stakeholder Impact

• The stock sale may have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
• The sale does not directly impact employees, customers, suppliers, or creditors.

Key Dates