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

Michael J. Hartshorn, COO of Ross Stores, Inc., sold 8,366 shares of common stock on September 16, 2024, at a weighted average price of $155.6422, according to a Form 4 filing with the SEC.

Summary

• On September 16, 2024, Michael J. Hartshorn, the Group President and COO of Ross Stores, Inc., sold 8,366 shares of the company's common stock.
• The sale was executed under a pre-established 10b5-1 trading plan adopted on October 6, 2023.
• The shares were sold at a weighted average price of $155.6422, with individual transaction prices ranging from $154.999 to $156.14.
• Following the transaction, Hartshorn directly owns 103,049 shares of Ross Stores, Inc.
• The transaction was reported on September 18, 2024, via a Form 4 filing with the Securities and Exchange Commission.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a stock sale by an executive. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.

Industry Context

Sales by company insiders are a common occurrence and are often pre-planned to avoid accusations of insider trading. The use of a 10b5-1 plan allows insiders to sell shares at predetermined times and prices.

Stakeholder Impact

• The sale of shares 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