Form 4: Texas Instruments Chairman Richard Templeton Reports Stock Sales
SEC Form 4 Filing
Richard Templeton, Chairman of Texas Instruments, reported the sale of company stock on April 29 and April 30, 2024, while also exercising stock options.
Summary
- Richard Templeton, Chairman of Texas Instruments, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On April 29, 2024, Templeton exercised options to acquire 104,000 shares at $53.94 per share and sold 104,000 shares.
- He also sold 34,422 shares at a weighted average price of $177.9108, 66,525 shares at $179.0418, and 3,053 shares at $179.5514 on the same day.
- On April 30, 2024, Templeton again exercised options to acquire 104,000 shares at $53.94 per share and sold 104,000 shares.
- He also sold 16,577 shares at a weighted average price of $176.7567, 56,342 shares at $177.9438, and 31,081 shares at $178.7426 on the same day.
- Following these transactions, Templeton directly owns 403,851 shares of Texas Instruments common stock.
- He also indirectly owns shares through a 401(k) account (311.42 estimated shares as of March 31, 2024), a profit-sharing account (12,824.66 estimated shares as of March 31, 2024), and trusts for his children (48,840 shares).
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
This filing is a routine disclosure of insider transactions and provides transparency to the market regarding the trading activities of company executives. It is common for executives to exercise stock options and sell shares for personal financial management.
Comparison to Industry Standards
- Executive stock sales are a common occurrence in publicly traded companies like Texas Instruments.
- Similar filings are regularly made by executives at companies like Intel (INTC), NVIDIA (NVDA), and Qualcomm (QCOM).
- The size and frequency of these transactions are typical for executives holding significant equity in their companies.
Stakeholder Impact
- The stock sales could have a minor, temporary impact on the stock price, but are unlikely to have a significant long-term effect.
- The transactions do not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 01/28/2016 | Date when the NQ Stock Option became exercisable in four equal annual installments. |
| 03/31/2024 | Date for estimated shares attributable to TI 401(k) and Universal Profit Sharing Account. |
| 04/29/2024 | Date of stock option exercise and stock sales. |
| 04/30/2024 | Date of stock option exercise and stock sales. |
| 05/01/2024 | Date of Form 4 filing. |
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