Vita Coco (NASDAQ: COCO) chair’s trust sells 50,000 shares under 10b5‑1 plan
Rhea-AI Filing Summary
Vita Coco Company, Inc. director and Executive Chairman Michael Kirban reported an insider transaction involving a trust he is associated with. On the reported date, the Michael Kirban Revocable Trust sold 50,000 shares of common stock at $68.00 per share in an open‑market transaction carried out under a Rule 10b5‑1 trading plan. Following this sale, that revocable trust held 515,681 shares of Vita Coco common stock. Separately, the filing shows 1,479,049 shares of common stock held indirectly by the Michael Kirban 2010 Trust and 143,799 shares held directly, along with several blocks of non‑qualified stock options with exercise prices ranging from $10.178 to $32.78 per share and expirations between 2029 and 2035.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 50,000 shares
Net Sell
10 txns
Insider
Kirban Michael
Role
Executive Chairman
Sold
50,000 shs ($3.40M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 50,000 | $68.00 | $3.40M |
| holding | Non-Qualified Stock Option (Right to Buy) | -- | -- | -- |
| holding | Non-Qualified Stock Option (Right to Buy) | -- | -- | -- |
| holding | Non-Qualified Stock Option (Right to Buy) | -- | -- | -- |
| holding | Non-Qualified Stock Option (Right to Buy) | -- | -- | -- |
| holding | Non-Qualified Stock Option (Right to Buy) | -- | -- | -- |
| holding | Non-Qualified Stock Option (Right to Buy) | -- | -- | -- |
| holding | Non-Qualified Stock Option (Right to Buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 515,681 shares (Indirect, by M. Kirban Revoc);
Non-Qualified Stock Option (Right to Buy) — 1,250,923 shares (Direct);
Common Stock — 143,799 shares (Direct);
Common Stock — 1,479,049 shares (Indirect, by M. Kirban 2010)
Footnotes (8)
- F1. The sales of shares of common stock reported were effected pursuant to a Rule 10b5-1 trading plan.
- F2. These shares are held by the Michael Kirban Revocable Trust.
- F3. These shares are held by the Michael Kirban 2010 Trust.
- F4. The stock option is fully vested and currently exercisable.
- F5. The stock option vests in four equal annual installments beginning on November 27, 2022.
- F6. The stock option vests in four equal annual installments beginning on March 10, 2024.
- F7. The stock option vests in four equal annual installments beginning on March 4, 2025.
- F8. The Stock Option vests in four equal annual installments beginning in March 3, 2026.
Key Figures
Shares sold: 50,000 shares
Sale price: $68.00 per share
Revocable Trust holdings: 515,681 shares
+5 more
8 metrics
Shares sold
50,000 shares
Open-market sale by Michael Kirban Revocable Trust
Sale price
$68.00 per share
Price for 50,000 Vita Coco common shares sold
Revocable Trust holdings
515,681 shares
Common stock held after sale by Michael Kirban Revocable Trust
2010 Trust holdings
1,479,049 shares
Common stock held indirectly by Michael Kirban 2010 Trust
Direct holdings
143,799 shares
Common stock held directly following reported transactions
Largest option block
546,000 shares at $10.178
Non-qualified stock option, expiration on 2029-12-16
Higher-strike option
70,715 shares at $32.78
Non-qualified stock option, expiration on 2035-03-03
Mid-range option
298,507 shares at $15.00
Non-qualified stock option, expiration on 2031-10-21
Key Terms
Rule 10b5-1 trading plan, Non-Qualified Stock Option (Right to Buy), Revocable Trust, vests in four equal annual installments, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"The sales of shares of common stock reported were effected pursuant to a Rule 10b5-1 trading plan."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
Non-Qualified Stock Option (Right to Buy) financial
"security_title: Non-Qualified Stock Option (Right to Buy)"
Revocable Trust financial
"These shares are held by the Michael Kirban Revocable Trust."
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
vests in four equal annual installments financial
"The stock option vests in four equal annual installments beginning on March 10, 2024."
exercise price financial
"exercisePrice: 10.1780"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Vita Coco (COCO) report for Michael Kirban?
Vita Coco reported that a trust associated with Executive Chairman Michael Kirban sold 50,000 shares of common stock at $68.00 per share. The sale was executed in an open‑market transaction under a pre‑arranged Rule 10b5‑1 trading plan.
Was the Vita Coco (COCO) insider sale pre‑planned under a Rule 10b5‑1 trading plan?
Yes. A footnote states that the sale of 50,000 Vita Coco common shares was effected pursuant to a Rule 10b5‑1 trading plan, indicating the transaction was pre‑scheduled rather than timed discretionarily around short‑term market movements.
What stock options for Vita Coco (COCO) does Michael Kirban still hold?
The Form 4 lists several non‑qualified stock options on Vita Coco common stock, with exercise prices from $10.178 to $32.78 per share and expiration dates ranging from 2029 through 2035. Some options are fully vested, while others vest in four annual installments.