Form 4: Smartsheet CEO Mark Mader Sells 5,000 Shares Under 10b5-1 Plan

Smartsheet's CEO, Mark Mader, sold 5,000 shares of Class A Common Stock at $56.07 per share, as part of a pre-arranged 10b5-1 trading plan.

Summary

• Mark Mader, the President and CEO of Smartsheet Inc., sold 5,000 shares of Class A Common Stock on January 6, 2025.
• The sale was executed at a price of $56.07 per share.
• This transaction was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on March 27, 2024.
• Following the transaction, Mader directly owns 619,515 shares of Class A Common Stock.
• He also has indirect ownership of 51,250 shares through the T49C Trust and 40,000 shares through the L38 Trust, both for the benefit of his child, but he disclaims beneficial ownership of these shares.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to a pre-planned stock sale by an executive. It does not indicate any positive or negative sentiment about the company's performance.

Industry Context

This is a routine filing related to insider trading activity. It is common for executives to use 10b5-1 plans to manage their stock sales and avoid accusations of insider trading.

Comparison to Industry Standards

• The use of 10b5-1 trading plans is a common practice among executives at publicly traded companies, including those in the technology sector like Smartsheet.
• Similar filings are regularly made by executives at companies like Atlassian, Salesforce, and Workday, reflecting standard practices for managing personal stock holdings.
• The volume of shares sold is relatively small compared to the total shares outstanding, which is typical for routine sales under 10b5-1 plans.

Stakeholder Impact

• The sale of shares by the CEO may have a minor impact on shareholder sentiment, but it is unlikely to significantly affect the stock price given the pre-planned nature of the transaction.

Key Dates

Keywords

Smartsheet, Mark Mader, insider trading, Form 4, 10b5-1 plan, stock sale, executive, equity