Form 4: Samsara CEO Sanjit Biswas Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Sanjit Biswas, CEO of Samsara Inc., sold shares of Class A Common Stock over three days in May 2024 under a pre-arranged 10b5-1 trading plan.
Summary
- Sanjit Biswas, the CEO of Samsara Inc., executed multiple sales of Class A Common Stock between May 21 and May 23, 2024.
- The sales were conducted under a Rule 10b5-1 trading plan adopted on September 29, 2023, by the co-trustees of the Biswas Family Trust.
- On May 21, 2024, 35,320 shares were sold at a weighted-average price of $40.9007, with individual prices ranging from $40.64 to $41.32.
- On May 22, 2024, 53,006 shares were sold at a weighted-average price of $40.6426, with individual prices ranging from $40.30 to $41.20.
- On May 23, 2024, two transactions occurred: 6,861 shares were sold at a weighted-average price of $40.0498 (prices ranging from $39.80 to $40.6301), and 813 shares were sold at a weighted-average price of $41.0863 (prices ranging from $40.965 to $41.19).
- Following these transactions, Biswas directly owns 1,703,391 shares of Class A Common Stock.
- Biswas also indirectly owns shares through various trusts, including the Biswas Family Trust (1,584,712 shares after the sales), The Biswas Trust I (153,600 shares), and The Biswas Trust II (614,400 shares).
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sentiment is neutral as it simply reports transactions without expressing any positive or negative outlook.
Industry Context
Insider sales are a common occurrence, and the use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on any specific non-public information.
Stakeholder Impact
- The share sales could have a minor impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates concerns about opportunistic trading.
Key Dates
| Date | Description |
|---|---|
| 07/13/2012 | Date of the Biswas Family Trust u/a/d |
| 09/29/2023 | Date the Rule 10b5-1 trading plan was adopted by SB and HB, Co-Trustees of the Biswas Family Trust |
| 10/14/2021 | Date of The Biswas Trust II u/a/d |
| 11/11/2021 | Date of The Biswas Trust I u/a/d |
| 05/21/2024 | Date of first reported transaction: Sale of 35,320 shares |
| 05/22/2024 | Date of second reported transaction: Sale of 53,006 shares |
| 05/23/2024 | Date of third and fourth reported transactions: Sales of 6,861 and 813 shares |
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