Analog Devices insider Ray Stata reports multi-day stock sales under preplanned 10b5-1 program

Rhea-AI Filing Summary

Analog Devices director Ray Stata reported multiple sales of company common stock executed under a pre-established 10b5-1 plan. The transactions occurred on September 17-18, 2025 and consist of a series of dispositions at weighted-average sale prices ranging from about $245.15 to $251.49 per share. Following these reported sales the reporting person directly held 155,071 shares (after sequential disposals reported) and Mrs. Stata is reported to indirectly own 652,221 shares. The Form 4 discloses that the sales were made pursuant to the 10b5-1 plan adopted January 9, 2025 and that the filer will provide transaction-level price details upon request.

Positive

• Sales conducted under a 10b5-1 plan, indicating pre-planned transactions rather than ad hoc insider trades
• Detailed price disclosure commitment: weighted-average prices provided and issuer/SEC can request per-trade details
• Substantial indirect ownership disclosed: Mrs. Stata reported to beneficially own 652,221 shares

Negative

• Director dispositions reduced direct holdings from 157,948 shares down to 155,071 shares after reported trades
• Large volume of shares sold across multiple transactions, which may be viewed as insider liquidity

Insights

Financial Analyst

TL;DR: Director sold a material number of shares under a pre-set 10b5-1 plan; remaining direct and indirect holdings remain disclosed.

The reported activity shows systematic dispositions across two days using a 10b5-1 trading plan, which indicates the sales were pre-planned rather than opportunistic. The filing reports sequential decreases in direct holdings from 157,948 to 155,071 shares after multiple transactions; indirect ownership by Mrs. Stata of 652,221 shares remains substantial. For investors, the filing documents insider liquidity but does not provide any change to company operations or performance metrics.

Corporate Governance Expert

TL;DR: Insider compliance is evident through a documented 10b5-1 plan; multiple disclosures provide transparency on execution prices.

The Form 4 properly identifies the reporting person as a director and states the dispositions were executed pursuant to a 10b5-1 plan adopted January 9, 2025. The explanations include weighted-average prices and commit to supplying per-trade prices on request, which supports regulatory transparency. No indications of related-party transactions or changes in control appear in the filing; the activity is a routine disclosure of insider sales.

Insider Trade Summary

Net Seller: 6,250 shares ($1,551,663)

Net Sell 10 txns

Insider STATA RAY

Role Director

Sold 6,250 shs ($1.55M)

Type	Security	Shares	Price	Value
Sale	Comm Stock - $.16-2/3 value	1,103	$248.9157	$275K
Sale	Comm Stock - $.16-2/3 value	1,359	$249.576	$339K
Sale	Comm Stock - $.16-2/3 value	550	$250.6941	$138K
Sale	Comm Stock - $.16-2/3 value	113	$251.4913	$28K
Sale	Comm Stock - $.16-2/3 value	248	$245.1522	$61K
Sale	Comm Stock - $.16-2/3 value	1,069	$246.3396	$263K
Sale	Comm Stock - $.16-2/3 value	1,194	$247.1671	$295K
Sale	Comm Stock - $.16-2/3 value	530	$248.0502	$131K
Sale	Comm Stock - $.16-2/3 value	84	$249.005	$21K
holding	Comm Stock - $.16-2/3 value	--	--	--

Holdings After Transaction: Comm Stock - $.16-2/3 value — 153,968 shares (Direct); Comm Stock - $.16-2/3 value — 652,221 shares (Indirect, By Mrs. Stata Directly)

Footnotes (1)

1. These shares were sold pursuant to a 10b5-1 plan adopted by the Reporting Person on January 9, 2025. These shares were disposed of in multiple transactions on September 17, 2025 at actual sales prices ranging from $244.57 to $245.485 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price. These shares were disposed of in multiple transactions on September 17, 2025 at actual sales prices ranging from $245.68 to $246.675 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price. These shares were disposed of in multiple transactions on September 17, 2025 at actual sales prices ranging from $246.70 to $247.695 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price. These shares were disposed of in multiple transactions on September 17, 2025 at actual sales prices ranging from $247.72 to $248.45 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price. These shares were disposed of in multiple transactions on September 17, 2025 at actual sales prices ranging from $248.78 to $249.325 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price. These shares were disposed of in multiple transactions on September 18, 2025 at actual sales prices ranging from $248.275 to $249.27 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price. These shares were disposed of in multiple transactions on September 18, 2025 at actual sales prices ranging from $249.29 to $250.27 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price. These shares were disposed of in multiple transactions on September 18, 2025 at actual sales prices ranging from $250.31 to $251.30 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price. These shares were disposed of in multiple transactions on September 18, 2025 at actual sales prices ranging from $251.38 to $251.74 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

STATA RAY

(Last) (First) (Middle)

ONE ANALOG WAY

(Street)

WILMINGTON MA 01887

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ANALOG DEVICES INC [ ADI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/17/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Comm Stock - $.16-2/3 value	09/17/2025		S		248(1)	D	$245.1522(2)	157,948	D
Comm Stock - $.16-2/3 value	09/17/2025		S		1,069(1)	D	$246.3396(3)	156,879	D
Comm Stock - $.16-2/3 value	09/17/2025		S		1,194(1)	D	$247.1671(4)	155,685	D
Comm Stock - $.16-2/3 value	09/17/2025		S		530(1)	D	$248.0502(5)	155,155	D
Comm Stock - $.16-2/3 value	09/17/2025		S		84(1)	D	$249.005(6)	155,071	D
Comm Stock - $.16-2/3 value	09/18/2025		S		1,103(1)	D	$248.9157(7)	153,968	D
Comm Stock - $.16-2/3 value	09/18/2025		S		1,359(1)	D	$249.576(8)	152,609	D
Comm Stock - $.16-2/3 value	09/18/2025		S		550(1)	D	$250.6941(9)	152,059	D
Comm Stock - $.16-2/3 value	09/18/2025		S		113(1)	D	$251.4913(10)	151,946	D
Comm Stock - $.16-2/3 value								652,221	I	By Mrs. Stata Directly

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. These shares were sold pursuant to a 10b5-1 plan adopted by the Reporting Person on January 9, 2025.

2. These shares were disposed of in multiple transactions on September 17, 2025 at actual sales prices ranging from $244.57 to $245.485 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

3. These shares were disposed of in multiple transactions on September 17, 2025 at actual sales prices ranging from $245.68 to $246.675 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

4. These shares were disposed of in multiple transactions on September 17, 2025 at actual sales prices ranging from $246.70 to $247.695 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

5. These shares were disposed of in multiple transactions on September 17, 2025 at actual sales prices ranging from $247.72 to $248.45 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

6. These shares were disposed of in multiple transactions on September 17, 2025 at actual sales prices ranging from $248.78 to $249.325 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

7. These shares were disposed of in multiple transactions on September 18, 2025 at actual sales prices ranging from $248.275 to $249.27 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

8. These shares were disposed of in multiple transactions on September 18, 2025 at actual sales prices ranging from $249.29 to $250.27 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

9. These shares were disposed of in multiple transactions on September 18, 2025 at actual sales prices ranging from $250.31 to $251.30 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

10. These shares were disposed of in multiple transactions on September 18, 2025 at actual sales prices ranging from $251.38 to $251.74 per share. The price reported reflects the weighted average sale price for the transactions. The Reporting Person undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

Remarks:

	/s/ Shelly Shaw, General Counsel, by Power of Attorney	09/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did ADI director Ray Stata report on Form 4?

The Form 4 reports multiple sales of Analog Devices (ADI) common stock by Ray Stata executed on September 17-18, 2025 under a 10b5-1 plan.

How many shares does Ray Stata directly and indirectly own after these transactions?

After the reported sales Ray Stata directly held 155,071 shares, and Mrs. Stata is reported to indirectly own 652,221 shares.

Were the sales part of a planned trading program?

Yes. The sales were made pursuant to a 10b5-1 plan adopted January 9, 2025 as stated in the filing.

What prices were the shares sold at?

The filing reports weighted-average sale prices by group ranging approximately from $245.15 to $251.49 per share and offers to provide exact per-trade prices on request.

Does the Form 4 indicate any change to control or related-party transactions?

No. The filing lists the reporting person as a director and discloses sales under the 10b5-1 plan; it does not indicate changes to control or related-party deals.