Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | SQ | Stock Option (right to buy) | Options Exercise | $0 | -153K | -33.33% | $0.00 | 307K | Mar 4, 2024 | Class B Common Stock | 153K | $13.94 | Direct | F2, F3, F4 |
transaction | SQ | Class B Common Stock | Options Exercise | $0 | +153K | $0.00 | 153K | Mar 4, 2024 | Class A Common Stock | 153K | Direct | F4 | ||
transaction | SQ | Class B Common Stock | Conversion of derivative security | $0 | -153K | -100% | $0.00* | 0 | Mar 4, 2024 | Class A Common Stock | 153K | Direct | F1, F4 |
Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.
Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
Id | Content |
---|---|
F1 | Represents the conversion of Class B Common Stock into Class A Common Stock held of record by the Reporting Person. |
F2 | The option exercise and sale reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on November 29, 2023. |
F3 | 20% of the shares subject to the option vested on June 1, 2016 and 1/60th of the shares vested monthly thereafter. |
F4 | Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and has no expiration date. |