Form 4: Seagate EVP Ban Seng Teh Sells 9,703 Shares Under 10b5-1 Plan
SEC Form 4 Filing
Seagate Technology Holdings' EVP & Chief Commercial Officer, Ban Seng Teh, sold 9,703 ordinary shares at $95 per share on May 14, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Ban Seng Teh, EVP & Chief Commercial Officer of Seagate Technology Holdings plc, reported a transaction involving the sale of ordinary shares.
- On May 14, 2024, Teh sold 9,703 ordinary shares at a price of $95 per share.
- The sale was executed under a Rule 10b5-1 trading plan adopted on January 29, 2024.
- Following the transaction, Teh directly owns 15,185 ordinary shares.
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
Executive stock sales are a common occurrence in publicly traded companies. The use of Rule 10b5-1 plans allows insiders to sell shares over a period of time without being accused of trading on non-public information.
Stakeholder Impact
- The sale of shares by an executive could be perceived negatively by some shareholders, but the existence of a 10b5-1 plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 01/29/2024 | Date the Rule 10b5-1 trading plan was adopted. |
| 05/14/2024 | Date of the transaction (sale of ordinary shares). |
| 05/15/2024 | Date of signature on the Form 4 filing. |
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