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 20 and March 22, 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 in March 2024.
- The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 20, 2023.
- On March 20, 2024, 33,214 shares were sold at an average price of $108.714 per share.
- On March 21, 2024, 48,077 shares were sold at an average price of $110.6127 per share.
- On March 22, 2024, 40,713 shares were sold at an average price of $111.7441 per share.
- Following these transactions, Cutillo directly owns 606,455 shares of Sterling Infrastructure, Inc., with 62,190 of these shares subject to restrictions.
Sentiment
Score: 5
Explanation: The document is neutral as it simply reports stock sales under a pre-existing trading plan. The sales themselves don't necessarily indicate a positive or negative outlook for the company.
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 negative interpretations.
Key Dates
| Date | Description |
|---|---|
| 12/20/2023 | Date the Reporting Person adopted a Rule 10b5-1 trading plan |
| 03/20/2024 | Date of first transaction: sale of 33,214 shares |
| 03/21/2024 | Date of second transaction: sale of 48,077 shares |
| 03/22/2024 | Date of third transaction: sale of 40,713 shares |
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