Form 4: Sterling Infrastructure CEO Joseph Cutillo Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Sterling Infrastructure's CEO, Joseph Cutillo, executed multiple sales of common stock between March 25 and March 27, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Joseph Cutillo, the CEO of Sterling Infrastructure, Inc., sold shares of the company's common stock over three days.
- The sales occurred on March 25, 26, and 27, 2024.
- A total of 118,322 shares were sold.
- The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 20, 2023.
- The price per share varied across the transactions, ranging from $111.41 to $114.29.
- After these transactions, Cutillo directly owns 488,133 shares, some of which are subject to restrictions.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports stock sales under a pre-existing trading plan. It doesn't inherently indicate positive or negative company performance.
Industry Context
Insider selling can sometimes be interpreted negatively by the market, but the use of a pre-arranged 10b5-1 trading plan suggests the sales were planned in advance and not based on current, non-public information.
Stakeholder Impact
- Shareholders may react to the news of insider selling, although the pre-planned nature of the sales mitigates potential concerns.
Key Dates
| Date | Description |
|---|---|
| 2023/12/20 | Date of adoption of Rule 10b5-1 trading plan. |
| 2024/03/25 | Date of first reported stock sale. |
| 2024/03/26 | Date of second reported stock sale. |
| 2024/03/27 | Date of third reported stock sale. |
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