Form 4: Smartsheet Chief Legal Officer Sells 2,000 Shares Under 10b5-1 Plan
SEC Form 4 Filing
Jolene Lau Marshall, Chief Legal Officer of Smartsheet Inc., sold 2,000 shares of Class A Common Stock at $55.99 per share on December 13, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- Jolene Lau Marshall, the Chief Legal Officer of Smartsheet Inc., sold 2,000 shares of the company's Class A Common Stock.
- The sale occurred on December 13, 2024, at a price of $55.99 per share.
- This transaction was executed under a pre-existing Rule 10b5-1 trading plan adopted on April 4, 2024.
- Following the transaction, Ms. Marshall directly owns 19,739 shares of Smartsheet's Class A Common Stock.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of an insider stock sale under a pre-arranged plan, which is neither positive nor negative for the company's outlook.
Industry Context
This is a routine disclosure of an insider stock sale, which is common for executives of publicly traded companies. The use of a 10b5-1 plan indicates the sale was pre-planned and not based on any material non-public information.
Comparison to Industry Standards
- The use of a 10b5-1 trading plan is a standard practice for corporate insiders to avoid accusations of insider trading, similar to practices at companies like Microsoft, Adobe, and Salesforce.
- The sale of 2,000 shares is a relatively small transaction compared to the overall trading volume of Smartsheet, and is not unusual for executive stock sales.
- The price of $55.99 per share is within the normal trading range for Smartsheet stock at the time of the transaction.
Stakeholder Impact
- The sale of shares by an executive may have a minor impact on shareholder sentiment, but is unlikely to significantly affect the stock price due to the small volume and pre-planned nature of the transaction.
- The transaction does not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 04/04/2024 | Date the Rule 10b5-1 trading plan was adopted by Jolene Lau Marshall. |
| 12/13/2024 | Date of the stock sale transaction. |
| 12/17/2024 | Date the Form 4 was signed. |
Keywords
Smartsheet, insider trading, Form 4, Rule 10b5-1, stock sale, Jolene Lau Marshall, SMAR, Chief Legal Officer
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