Key Highlights
- These 10 stocks could mint the next wave of millionaires › David Abraham Gilboa, co-chief executive officer of Warby Parker (NYSE:WRBY), sold 94,906 shares in multiple open-market transactions from Tuesday through Thursday, as disclosed in a recent SEC Form 4 filing.
- Transaction summary Metric Value Shares sold (direct) 94,906 Transaction value $2.61 million Post-transaction shares (direct) 37,247 Post-transaction value (direct ownership) $1.05 million Transaction value based on SEC Form 4 weighted average purchase price ($27.51); post-transaction value based on Thursday market close ($28.30).
- Key questions What was the rationale and mechanism behind this sizable share disposition?The transaction involved the conversion and sale of derivative securities (options on Class A Common Stock), executed under a pre-established Rule 10b5-1 trading plan, signaling planned share monetization rather than opportunistic trading.
- How does the sale compare to the insider's prior selling activity?This trade was in line with the recent median sell size of 84,953 shares, but the percentage of holdings sold (71.82%) far exceeded the recent median of 22.31%, reflecting the diminished remaining direct equity available for sale.
- What is the post-sale position, and how does it affect future insider sale capacity?Following this transaction, Gilboa’s direct equity stake stands at 37,247 shares (0.03% of shares outstanding); however, he still holds a substantial number of shares through derivative securities.
