Form 4: Seagate Technology SVP Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Kian Fatt Chong, SVP of Global Operations at Seagate Technology, sold 11,353 ordinary shares at $97.53 per share on March 4, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- Kian Fatt Chong, a Senior Vice President at Seagate Technology, sold 11,353 ordinary shares of the company on March 4, 2024.
- The sale was executed at a price of $97.53 per share.
- The transaction was conducted under a Rule 10b5-1 trading plan adopted by Chong on December 4, 2023.
- Following the transaction, Chong still beneficially owns 201 ordinary shares.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to an insider share sale under a pre-arranged trading plan, indicating a neutral sentiment.
Industry Context
Sales by company insiders are a normal part of corporate activity. The use of a 10b5-1 trading plan suggests the sale was pre-planned and not based on any specific 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 this concern.
Key Dates
| Date | Description |
|---|---|
| 2023-12-04 | Date the Rule 10b5-1 trading plan was adopted by Kian Fatt Chong. |
| 2024-03-04 | Date of the transaction: sale of 11,353 ordinary shares. |
| 2024-03-05 | Date of signature of the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.