GLOBALFOUNDRIES (GFS) legal chief sells 500 shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
GLOBALFOUNDRIES Inc. Chief Legal Officer Azar Samak L sold 500 Ordinary Shares in an open-market transaction at $48.71 per share. After this sale, the officer directly holds 17,494 Ordinary Shares. The sale is permitted under a lock-up agreement expiring on May 10, 2026.
According to a footnote, the transaction was carried out under a pre-arranged Rule 10b5-1 trading plan adopted before an offering by the company’s majority shareholder, indicating it was scheduled in advance rather than timed opportunistically.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 500 shares ($24,355)
Net Sell
1 txn
Insider
Azar Samak L
Role
Chief Legal Officer
Sold
500 shs ($24K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Ordinary Shares | 500 | $48.71 | $24K |
Holdings After Transaction:
Ordinary Shares — 17,494 shares (Direct, null)
Footnotes (1)
- [object Object]
Key Figures
Shares sold: 500 shares
Sale price: $48.71 per share
Shares held after transaction: 17,494 shares
+1 more
4 metrics
Shares sold
500 shares
Open-market sale on 2026-04-16
Sale price
$48.71 per share
Ordinary Shares transaction
Shares held after transaction
17,494 shares
Direct ownership following sale
Lock-up expiration date
May 10, 2026
End of lock-up agreement with underwriters
Key Terms
Rule 10b5-1 trading plan, lock-up agreement, underwriters, majority shareholder
4 terms
Rule 10b5-1 trading plan financial
"The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person"
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.
lock-up agreement financial
"The reporting person is subject to a lock-up agreement that expires on May 10, 2026"
A lock-up agreement is a contract that prevents company insiders and early investors from selling their shares for a fixed period after a stock sale, often after an initial public offering. It matters to investors because it temporarily limits the number of shares that can hit the market, which can keep the share price steadier; when the lock-up ends, a sudden increase in available shares can create extra volatility, revealing insiders’ confidence or lack thereof.
underwriters financial
"lock-up agreement that expires on May 10, 2026 that was entered into with the underwriters"
Underwriters are financial professionals or institutions that help companies raise money by selling new securities, such as stocks or bonds, to investors. They assess the risk and determine the price at which these securities should be sold, acting like a bridge between the company and the investors. Their role helps ensure that the company raises the needed funds while providing investors with options that reflect the level of risk involved.
FAQ
What insider transaction did GLOBALFOUNDRIES (GFS) report for Azar Samak L?
GLOBALFOUNDRIES reported that Chief Legal Officer Azar Samak L sold 500 Ordinary Shares. The shares were sold in an open-market transaction at $48.71 each, and the sale was executed under a pre-arranged Rule 10b5-1 trading plan.
Was the GLOBALFOUNDRIES (GFS) insider sale made under a Rule 10b5-1 plan?
Yes. The filing states the sale was effected under a Rule 10b5-1 trading plan adopted by the reporting person before the offering. Such plans pre-schedule trades, reducing the significance of trade timing as an indicator of insider sentiment.
What lock-up restrictions apply to this GLOBALFOUNDRIES (GFS) insider?
The insider is subject to a lock-up agreement expiring on May 10, 2026, entered into with underwriters related to an offering by the issuer’s majority shareholder. The sale is described as a permissible exemption under this lock-up’s terms.