GLOBALFOUNDRIES (NYSE: GFS) legal chief sells 500 shares under 10b5-1
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
GLOBALFOUNDRIES Inc. Chief Legal Officer Azar Samak L reported an open-market sale of 500 Ordinary Shares at $42.96 per share. After this transaction, the officer directly holds 18,494 Ordinary Shares.
The footnote explains that the officer is subject to a lock-up agreement that runs until May 10, 2026, entered into with underwriters in connection with an offering by the company’s majority shareholder. This sale is described as a permissible exemption under that lock-up and was carried out under a pre-established Rule 10b5-1 trading plan adopted before that offering.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 500 shares ($21,480)
Net Sell
1 txn
Insider
Azar Samak L
Role
Chief Legal Officer
Sold
500 shs ($21K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Ordinary Shares | 500 | $42.96 | $21K |
Holdings After Transaction:
Ordinary Shares — 18,494 shares (Direct)
Footnotes (1)
- [object Object]
Key Figures
Shares sold: 500 shares
Sale price: $42.96 per share
Shares held after transaction: 18,494 shares
+2 more
5 metrics
Shares sold
500 shares
Open-market sale of Ordinary Shares
Sale price
$42.96 per share
Price for the 500 Ordinary Shares sold
Shares held after transaction
18,494 shares
Direct ownership after the sale
Transaction date
April 2, 2026
Date of the open-market sale
Lock-up expiration
May 10, 2026
End date of lock-up agreement
Key Terms
Rule 10b5-1 trading plan, lock-up agreement, open-market sale, majority shareholder
4 terms
Rule 10b5-1 trading plan regulatory
"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 regulatory
"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.
open-market sale financial
"transaction_action: "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
FAQ
What insider transaction did GLOBALFOUNDRIES (GFS) report on this Form 4?
GLOBALFOUNDRIES reported that its Chief Legal Officer, Azar Samak L, sold 500 Ordinary Shares in an open-market transaction at $42.96 per share. Following the sale, the officer directly holds 18,494 Ordinary Shares in the company.
Was the GLOBALFOUNDRIES (GFS) insider sale under a Rule 10b5-1 plan?
Yes. The filing states the sale was carried out under a Rule 10b5-1 trading plan adopted by the reporting person before an offering by the majority shareholder, indicating the trades were pre-arranged rather than timed opportunistically.
Is the GLOBALFOUNDRIES (GFS) insider subject to a lock-up agreement?
Yes. The footnote explains the reporting person is subject to a lock-up agreement that expires on May 10, 2026. The 500-share sale is described as a permissible exemption under the terms of that lock-up agreement.
Who is the insider involved in this GLOBALFOUNDRIES (GFS) Form 4 filing?
The insider is Azar Samak L, who serves as Chief Legal Officer of GLOBALFOUNDRIES Inc. The filing reports this officer’s open-market sale of 500 Ordinary Shares and the resulting direct ownership of 18,494 shares.