Form 4: Warby Parker CFO Steven Miller Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Warby Parker's CFO, Steven Miller, sold 6,763 shares of Class A Common Stock at an average price of $13.90 on September 11, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- On September 11, 2024, Steven Miller, the Chief Financial Officer of Warby Parker Inc., sold 6,763 shares of Class A Common Stock.
- The sale was executed at an average price of $13.90 per share.
- The transactions occurred under a Rule 10b5-1 trading plan adopted on August 29, 2023.
- Following the reported transaction, Miller directly owns 177,488 shares of Warby Parker's Class A Common Stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting a share sale by an executive under a pre-arranged trading plan. It doesn't inherently indicate positive or negative sentiment.
Industry Context
Sales by executives are a normal part of corporate activity. The use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on insider information.
Stakeholder Impact
- The sale of shares by a company executive can sometimes be perceived negatively by shareholders, but the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| August 29, 2023 | Date the reporting person adopted the Rule 10b5-1 trading plan |
| September 11, 2024 | Date of the share sale transaction |
| September 13, 2024 | Date of the Form 4 filing |
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