Alphabet (NASDAQ:GOOGL) Inc. (NASDAQ:GOOG) board director John L. Hennessy has sold a total of 800 shares of Class C Capital Stock, according to a recent SEC filing. The transactions, which took place on April 12, 2024, amounted to over $127,648 in value, with prices ranging from $158.8231 to $161.1641 per share.
The filing indicates that the shares were sold in multiple transactions within the specified price range. After the sale, Hennessy's remaining stake in Alphabet's Class C Capital Stock is reported to be 7,991 shares. It is noted that the sales were executed indirectly by a trust.
Alphabet investors often monitor insider transactions as they provide insights into the actions of the company's directors and executives. Hennessy's recent stock sales might draw particular interest from the market, as they reflect transactions by a member of the company's board.
The report also details holdings in Class A Common Stock and various tranches of Class C Google Stock Units, which entitle the holder to receive Alphabet Inc. Class C Capital Stock as they vest. These holdings are part of long-term compensation and are not directly affected by the reported sale transactions.
The SEC filing includes a remark that all the reported sales were conducted in accordance with a pre-arranged trading plan, known as a Rule 10b5-1 plan, which was adopted by the John L. Hennessy and Andrea J. Hennessy Revocable Trust on November 1, 2023. This plan allows insiders to sell shares at predetermined times to avoid concerns about transactions based on non-public information.
Alphabet Inc. has not made any official comment regarding the transactions reported in the SEC filing.
InvestingPro Insights
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