ADI director Ray Stata sells shares under 10b5-1 plan, retains 155k direct shares
Analog Devices director Ray Stata reported multiple sales of company common stock executed under a pre-established 10b5-1 plan.
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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
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.
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
| 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 | -- | -- | -- |
Footnotes (10)
- F1. These shares were sold pursuant to a 10b5-1 plan adopted by the Reporting Person on January 9, 2025.
- F2. 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.
- F3. 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.
- F4. 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.
- F5. 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.
- F6. 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.
- F7. 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.
- F8. 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.
- F9. 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.
- F10. 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.
FAQ
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What did ADI director Ray Stata report on Form 4?
Were the sales part of a planned trading program?
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