Form 4: Capital V LLC Sells Viant Technology Shares

Capital V LLC, a 10% owner and director of Viant Technology Inc., reported the sale of 37,500 Class A Common Stock shares over three days in January 2026, following a conversion of Class B Units.

Summary

• Capital V LLC, a 10% owner and director of Viant Technology Inc. (DSP), reported a series of transactions.
• On January 20, 2026, Capital V LLC exchanged 37,500 Class B Units for 37,500 shares of Class A Common Stock, with the corresponding Class B Common Stock being cancelled.
• Following this conversion, Capital V LLC sold a total of 37,500 shares of Class A Common Stock over three days.
• On January 20, 2026, 15,000 shares were sold at a weighted average price of $11.9403.
• On January 21, 2026, 14,778 shares were sold at a weighted average price of $12.2405.
• On January 22, 2026, 7,722 shares were sold at a weighted average price of $12.8716.
• These sales were executed pursuant to a Rule 10b5-1 plan adopted on March 18, 2025, and amended on September 17, 2025.
• After these transactions, Capital V LLC holds 0 Class A Common Stock directly from these specific transactions, but still holds 27,434,326 Class B Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While insider selling can sometimes be viewed negatively, these sales were pre-planned under a 10b5-1 plan, which mitigates the immediate negative signal. The increasing sale prices over the three days could be seen as positive for the stock's short-term liquidity.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 plan, indicating a planned divestment strategy rather than a reaction to new negative information.
• The selling prices for Class A Common Stock increased over the three-day period, from a weighted average of $11.9403 to $12.8716.

Negatives

• A significant insider, Capital V LLC, has reduced its direct holdings of Class A Common Stock to zero through these sales.
• The conversion of Class B Units to Class A Common Stock and subsequent sale could be perceived as a move to monetize holdings.

Risks

• Insider selling, even if pre-planned, can sometimes be interpreted by the market as a lack of confidence in the company's future prospects, potentially leading to downward pressure on the stock price.

Future Outlook

The filing does not contain any explicit forward-looking statements or guidance regarding Viant Technology Inc.'s future performance or strategic direction. The transactions reflect a pre-planned divestment by an insider.

Industry Context

This Form 4 filing primarily details insider trading activity and does not provide broader industry context or trends. The transactions are specific to Capital V LLC's holdings in Viant Technology Inc. and do not reflect general market conditions or competitive dynamics within the ad-tech industry.

Stakeholder Impact

• Shareholders: The sale by a significant insider could lead to concerns about future stock performance, although the 10b5-1 plan suggests a pre-determined strategy. The increased liquidity from the sales might be a minor positive.
• Employees, Customers, Suppliers, Creditors: No direct impact is indicated by this filing, as it pertains solely to beneficial ownership changes by a director/10% owner.

Key Dates

Recommendation

While the sale of shares by a significant insider like Capital V LLC might typically signal a negative outlook, the execution under a pre-arranged 10b5-1 plan mitigates the immediate bearish interpretation. The increasing sale prices over the three days suggest market demand at those levels. Given the lack of other company-specific news or financial performance data in this Form 4, a 'hold' recommendation is appropriate, advising investors to monitor future company developments and broader market trends rather than reacting solely to this planned insider divestment.

Keywords

Viant Technology, DSP, Capital V LLC, Insider Selling, Form 4, Stock Sale, 10b5-1 Plan, Class A Common Stock, Class B Units, Beneficial Ownership