Form 4: Teradata CEO Stephen McMillan Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Teradata's CEO, Stephen McMillan, sold 9,900 shares of common stock at an average price of $31.94 on May 24, 2024, as part of a pre-arranged trading plan.
Summary
- On May 24, 2024, Stephen McMillan, the President and CEO of Teradata Corp, sold 9,900 shares of Teradata common stock at an average price of $31.94.
- An additional 100 shares were sold at $32.74.
- The sales were executed under a Rule 10b5-1 trading plan adopted on February 23, 2024.
- Following the transactions, McMillan directly owns 393,579 shares of Teradata common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to stock sales by an executive under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.
Risks
- Executive stock sales can sometimes be perceived negatively by investors, although sales under a 10b5-1 plan are typically viewed as less concerning since they are pre-planned.
Industry Context
Executive stock sales are a common occurrence in publicly traded companies. The use of a 10b5-1 trading plan is a standard practice to avoid accusations of insider trading.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders, but the existence of a 10b5-1 plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 02/23/2024 | Date of adoption of Rule 10b5-1 trading plan |
| 05/24/2024 | Date of stock sale transactions |
| 05/29/2024 | Date of Form 4 filing |
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