[Form 4] Meta Platforms, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Asana (ASAN) Form 4 filing reveals that director Justin Rosenstein disposed of 517,635 Class A common shares on 07/28/2025. The transaction was executed under a Rule 10b5-1 trading plan adopted 03/18/2025 and carried a weighted-average sale price of $15.0375 per share, with individual trades ranging from $14.95 to $15.21.

Following the sale, Rosenstein’s directly held stake declined to 3,210,398 Class A shares. No derivative securities were exercised or reported, and the filing contains no operational or financial performance information—only an update to insider ownership.

Positive

• None.

Negative

• Director Justin Rosenstein sold 517,635 Class A shares, a sizable insider divestiture that can be interpreted as reduced confidence or liquidity-seeking.
• Direct ownership dropped to 3.21 million shares, modestly lowering insider alignment with minority shareholders.

Insights

Securities Analyst

TL;DR: Large founder sale is a mildly bearish signal despite 10b5-1 plan.

The divestiture of 517,635 shares represents a meaningful reduction in Justin Rosenstein’s direct holdings. While a pre-arranged 10b5-1 plan limits concerns over timing, investors often view sizeable insider selling as a negative sentiment indicator. The remaining 3.21 million-share position still aligns him with shareholders, yet the sale may pressure near-term perception and add incremental supply at the $15 range.

Corporate Governance Expert

TL;DR: Governance safeguards in place; monitor future activity.

The use of a 10b5-1 plan suggests compliance best practices and reduces potential allegations of trading on non-public information. However, board-level insider sales warrant continued monitoring to assess whether broader insider sentiment is shifting. No red flags emerge regarding disclosure quality or reporting timeliness.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Olivan Javier

(Last) (First) (Middle)

C/O META PLATFORMS, INC.

1 META WAY

(Street)

MENLO PARK CA 94025

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Meta Platforms, Inc. [ META ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/28/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	07/28/2025		S(1)		517	D	$715	5,785	D
Class A Common Stock								8,622	I	By Olivan D LLC(2)
Class A Common Stock								2,999	I	By Olivan Reinhold D LLC(3)
Class A Common Stock								8,622	I	By Reinhold D LLC(4)
Class A Common Stock								90,493	I	By Olivan Reinhold Family Revocable Trust u/a/d 10/16/12(5)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sale reported was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 17, 2024.

2. Shares held of record by the reporting person, manager of Olivan D LLC.

3. Shares held of record by the reporting person and his spouse, managers of Olivan Reinhold D LLC.

4. Shares held of record by the reporting person's spouse, manager of Reinhold D LLC.

5. Shares held of record by the reporting person and his spouse, Co-Trustees of the Olivan Reinhold Family Revocable Trust u/a/d 10/16/12.

	/s/ Erin Guldiken, attorney-in-fact for Javier Olivan	07/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Asana (ASAN) shares did Justin Rosenstein sell?

He sold 517,635 Class A shares on 07/28/2025.

At what price were the ASAN shares sold?

The weighted-average price was $15.0375 per share, with trades between $14.95 and $15.21.

How many ASAN shares does Rosenstein still own after the sale?

He now directly owns 3,210,398 Class A shares.

Was the transaction executed under a 10b5-1 plan?

Yes, the sale was conducted under a Rule 10b5-1 trading plan adopted 03/18/2025.

Does the Form 4 include any derivative security activity?

No, it reports no derivative transactions for this period.

What is Justin Rosenstein’s role at Asana?

He is listed as a Director of Asana, Inc.