BR Form 4: CEO Timothy Gokey Disposes 5,674 Shares via 10b5-1 Plan
Rhea-AI Filing Summary
Timothy C. Gokey, CEO of Broadridge Financial Solutions (BR), reported an open-market sale of 5,674 shares on 08/25/2025 under a 10b5-1 trading plan adopted May 14, 2025. The filing shows a weighted-average sale price of $258.3733, with execution prices ranging from $256.24 to $262.46. After the reported dispositions, Mr. Gokey beneficially owned 143,285.0271 shares, held directly. The Form 4 was filed as a single reporting-person filing and was signed by a power of attorney on 08/26/2025. The report includes an undertaking to provide detailed per-price sale information upon request.
Positive
- Transaction executed under a 10b5-1 plan, indicating pre-arranged and compliant insider trading
- Weighted-average price and execution range disclosed, with offer to provide per-price details on request
- Form 4 filed by one reporting person and executed via power of attorney, showing proper procedural compliance
Negative
- CEO reduced direct ownership by 5,674 shares, lowering his stake to 143,285.0271 shares
- Insider sale may be perceived negatively by some investors despite being pre-planned
Insights
TL;DR: Routine insider sale under a pre-established 10b5-1 plan; shows compliance and transparency but reduces the CEO's direct stake modestly.
The sale of 5,674 shares was executed pursuant to a 10b5-1 plan, which signals pre-planned disposition rather than opportunistic trading. That supports governance best practices by reducing potential concerns about trading on non-public information. The filing discloses weighted-average price and the range of execution prices and offers to provide per-price details, which is thorough disclosure. The remaining direct beneficial ownership of ~143.3k shares remains significant but is reduced by the sale. Overall, this is procedurally compliant and informational for shareholders.
TL;DR: Small-scale, pre-planned insider sale; unlikely to be materially market-moving given the quantity and disclosure.
The transaction quantity (5,674 shares) and the disclosed weighted-average price ($258.3733) indicate a routine disposition. The seller used a 10b5-1 plan adopted May 14, 2025, which typically mitigates timing concerns. The filing reports post-sale direct beneficial ownership of 143,285.0271 shares, which provides context on the CEO's remaining exposure to the company. From a market-impact perspective, this single, disclosed sale is unlikely to change investor valuation materially.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 5,674 | $258.3733 | $1.47M |
Footnotes (1)
- The reported transaction is an open market sale pursuant to a 10b5-1 plan adopted by the reporting person May 14, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $256.24 - $262.46, inclusive. The reporting person undertakes to provide to Broadridge Financial Solutions, Inc., any shareholder of Broadridge Financial Solutions, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (2) to this Form 4.
