Thursday, 18 April 2024
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Arteris VP and general counsel sells $81.5k in stock By Investing.com

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In a recent transaction, Arteris, Inc.’s (NASDAQ:AIP) Vice President and General Counsel, Paul L. Alpern, sold shares of the company’s stock, totaling approximately $81,512. The transactions occurred on April 1, 2024, and were reported in a Form 4 document filed with the Securities and Exchange Commission.

Alpern sold a total of 11,250 shares of Arteris common stock. The sales were executed in multiple transactions at prices ranging from $7.24 to $7.29 per share. This price range indicates that the executive received an average of roughly between these prices for each share sold.

In addition to the sales, Alpern also executed option exercises on the same day. The options, which were converted to common stock, included 10,000 shares at a price of $0.56 per share, totaling $5,600, and 1,250 shares at a price of $0.60 per share, totaling $750. It is worth noting that these option exercises are separate from the sale transactions and represent the cost to acquire the shares rather than proceeds from selling them.

The Form 4 filing also included a footnote indicating that the sales were made pursuant to a 10b5-1 trading plan adopted by Alpern on August 16, 2023. Such trading plans allow company insiders to establish pre-planned transactions at a time when they are not in possession of material non-public information, providing a defense against potential accusations of insider trading.

The filing further mentioned that the price reported for the larger sale transaction is a weighted average price. Alpern has committed to providing full information regarding the number of shares sold at each separate price within the reported range upon request.

Investors and followers of Arteris, Inc. may find this information relevant as it provides insight into the actions of key executives and their perspectives on the company’s stock value. It’s important to note that insider transactions can vary in motivation and may not always be indicative of the company’s future performance.

For more detailed information, interested parties can refer to the full Form 4 filing available on the Securities and Exchange Commission’s website.

InvestingPro Insights

As investors digest the recent insider transactions at Arteris, Inc., it’s valuable to consider the company’s financial standing and market performance. According to InvestingPro, Arteris boasts an impressive gross profit margin, which stands at a robust 90.54% for the last twelve months as of Q4 2023. This figure is a testament…

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