Form 4: Weave Communications Director Modersitzki Sells Shares Under 10b5-1 Plan

Blake G. Modersitzki, a director at Weave Communications, executed sales of common stock on October 31, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On October 31, 2024, Blake G. Modersitzki, a director of Weave Communications, Inc. (WEAV), sold shares of common stock.
• The sales were executed under a Rule 10b5-1 trading plan adopted on March 6, 2024.
• Modersitzki sold 113,395 shares at a weighted average price of $14.05, with prices ranging from $13.95 to $14.33.
• Following the transaction, Modersitzki directly owns 111,097 shares.
• Modersitzki also has indirect ownership through various Pelion Ventures entities, including Pelion Ventures VI, L.P., Pelion Ventures VI-A, L.P., Pelion Ventures VII, L.P., Pelion Ventures VII-A, L.P., and Pelion Ventures VII-Entrepreneurs Fund, L.P.
• He disclaims beneficial ownership of these indirectly held shares except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to insider trading. The sale of shares by a director could be viewed neutrally as it was conducted under a pre-arranged trading plan.

Industry Context

Sales by company directors are a normal part of business. It is important to note that the sale was executed under a pre-arranged 10b5-1 trading plan, which is a common practice to avoid accusations of insider trading.

Stakeholder Impact

• The sale of shares by a director could have a minor negative impact on shareholder sentiment, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates