[144] Modine Manufacturing Co SEC Filing

Rhea-AI Filing Summary

PSTG – Form 144 filing dated 07/31/2025 discloses a proposed sale of 163,925 common shares of Pure Storage, Inc. through Morgan Stanley Smith Barney on the NYSE. At the 07/30/2025 closing price implied by the filing, the transaction is valued at ≈ $9.71 million. The shares represent roughly 0.05 % of the company’s 326.8 million shares outstanding.

The shares were originally acquired on 10 Oct 2009 as “Founders Shares.” The seller plans to rely on Rule 10b5-1 and affirms possession of no undisclosed material information.

Recent activity: trusts identified as “THE COLGROVE FAM CHARITABLE REM TR” and “THE COLGROVE FAM LIVING TR” executed five 10b5-1 trades over the past three months, selling a combined 301,251 shares for ≈ $17.28 million.

Investor take-away: The filing signals continued insider monetization but involves a small fraction of outstanding equity. While not dilutive, the size and cadence of sales could modestly pressure near-term sentiment.

Positive

• None.

Negative

• Founding family–linked entities plan to sell 163,925 shares (~$9.7 m) after unloading 301,251 shares (~$17.3 m) in the prior three months, signaling continued insider selling.

Insights

Securities Analyst

TL;DR – Small but steady insider sales; marginal downward sentiment risk.

The notice covers 163.9 k shares (~$9.7 m) to be sold by entities linked to the founding family. Coupled with the prior 301 k-share divestiture in the last quarter, total cash raised tops $27 m in nine months. Although the absolute stake is immaterial to the float, repetitive 10b5-1 activity can act as an overhang when investor conviction depends on accelerating subscription revenue. No operational data is provided; therefore, fundamental value is unchanged. I view the impact as slightly negative given the optics of founder-related selling.

Corporate Governance Expert

TL;DR – Routine Rule 144 disclosure; governance controls appear intact.

The seller utilizes a 10b5-1 plan, reducing litigation risk and signaling compliance discipline. Filing language reaffirms no possession of MNPI. Size is below 1 % of daily volume, limiting market impact. Continuous diversification by long-tenured insiders is expected as the firm matures. I classify the event as neutral-to-minor; it warrants monitoring but does not indicate governance stress.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	6621	752278.02	52391883	07/31/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	06/06/2023	Restricted Stock Units	Issuer			6621	06/06/2023	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Pure Storage (PSTG) shares are being registered for sale?

The Form 144 covers 163,925 common shares.

What is the estimated value of the proposed PSTG share sale?

Based on the filing, the sale is valued at approximately $9.71 million.

When is the planned sale date for the PSTG shares?

The filing lists an approximate sale date of 07/31/2025.

How many PSTG shares were sold by the same trusts in the last 3 months?

301,251 shares were sold, generating ≈ $17.28 million in gross proceeds.

What percentage of Pure Storage’s shares outstanding does the new sale represent?

The 163,925 shares equal roughly 0.05 % of the 326.8 million shares outstanding.