PSTG Form 4: Director Colgrove executes large 10b5-1 share sales at ~$87.5
Rhea-AI Filing Summary
Pure Storage director and Chief Visionary Officer John Colgrove reported multiple share dispositions on 09/18/2025, executed under a Rule 10b5-1 plan. The filing shows explicit sales of 77,569 and 22,431 Class A shares at weighted-average prices of $87.23 and $87.68, respectively, and a further reported disposition of 6,478,148 Class A shares. After the reported transactions, the filing discloses remaining beneficial ownership in Class A shares held directly and indirectly, including 322,431 shares held indirectly by The Colgrove Family Charitable Remainder Trust and additional holdings through family and irrevocable trusts. The sales were made pursuant to a 10b5-1 plan adopted January 7, 2025.
Positive
- Transactions executed under a Rule 10b5-1 plan, providing a pre-established framework and affirmative defense for the trades
- Disclosure of indirect holdings by named trusts (Colgrove Family Charitable Remainder Trust; Colgrove Family Living Trust; irrevocable trusts) clarifies ongoing beneficial ownership
Negative
- Substantial dispositions reported: 6,478,148 Class A shares plus separate sales of 77,569 and 22,431 shares on 09/18/2025
- Material selling at market prices (weighted-average prices reported at $87.23 and $87.68) which may be seen as significant liquidations by an insider
Insights
TL;DR: Insider executed large planned sales under a 10b5-1 plan on 09/18/2025; remaining indirect holdings remain material.
John Colgrove, a director and the company’s Chief Visionary Officer, reported multiple Class A share dispositions tied to a Rule 10b5-1 trading plan adopted January 7, 2025. The filing itemizes two weighted-average sale prices: $87.23 (77,569 shares) and $87.68 (22,431 shares), and a separate reported disposition of 6,478,148 shares. Significant indirect holdings remain via The Colgrove Family Charitable Remainder Trust and multiple family trusts, indicating continued exposure to company equity despite the sales. For investors, planned insider selling of this scale is noteworthy but the 10b5-1 disclosure clarifies intent and timing were prearranged.
TL;DR: Sales were processed under an established 10b5-1 plan, reducing ambiguity about insider timing but representing substantial share dispositions.
The Form 4 confirms the transactions were effected pursuant to a Rule 10b5-1 trading plan for The Colgrove Family Charitable Remainder Trust. Using a 10b5-1 plan provides the reporting person an affirmative defense against certain allegations of insider trading because the plan pre-dates the reported trades. The filing also details ongoing indirect ownership through several trusts, which is relevant for assessing long-term aligned ownership and governance influence.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 77,569 | $87.23 | $6.77M |
| Sale | Class A Common Stock | 22,431 | $87.68 | $1.97M |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on behalf of The Colgrove Family Charitable Remainder Trust on January 7, 2025. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $86.57 to $87.56 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. Shares are held by The Colgrove Family Charitable Remainder Trust. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $87.57 to $87.81 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. Shares are held by Colgrove Family Living Trust. Shares are held by Eric Edward Colgrove Irrevocable Trust DTD Feb 8, 2011, Jeff Rothschild TTEE. Shares are held by Richard Winston Colgrove Irrevocable Trust DTD Feb 8, 2011, Jeff Rothschild TTEE.
