Wayfair Inc. Form 4 Filings

Wayfair Inc. (W) officer Jon Blotner, listed as Pres., Commercial & Operations, sold 546 shares of Class A common stock at $110 per share on October 15, 2026, under a Rule 10b5-1 trading plan adopted June 9, 2026. He held 115,885 shares directly after the sale. His spouse directly owned 100 shares, of which Blotner is deemed a beneficial owner.

Wayfair Inc. director Steven Conine sold 117,000 shares of Class A common stock on October 15, 2026, across three reported transactions at weighted average prices of $110.36, $111.64, and $112.47 per share. The sales were made under a Rule 10b5-1 trading plan adopted May 6, 2026. Separately, 22,857 shares are reported as held by SK Ventures LLC, of which Conine is a member and may be deemed a beneficial owner.

Wayfair Inc. CEO and director Niraj Shah sold 69,000 shares of Class A common stock on October 12, 2026, across five reported sales. The listed weighted-average prices ranged from $103.66 to $107.31 per share; the sales were effected under a Rule 10b5-1 trading plan adopted May 6, 2026. A separate holding entry reports 22,857 shares directly owned by SK Ventures LLC; Shah is a member and may be deemed a beneficial owner.

Wayfair Inc. director Steven Conine sold 69,000 shares of Class A common stock on October 12, 2026, across five transactions at weighted-average prices from $103.66 to $107.31 per share. The sales were made under a Rule 10b5-1 trading plan adopted May 6, 2026. Separately, SK Ventures LLC directly owned 22,857 shares; Conine is a member and may be deemed a beneficial owner.

On October 1, 2026, Wayfair Inc. Chief Technology Officer Fiona Tan reported vesting of 1,199 and 27,073 RSUs, with corresponding acquisitions of the same numbers of Class A common shares. The issuer withheld 14,357 shares to satisfy Tan's tax withholding obligation.

A revocable trust for which Tan is trustee sold 7,000 shares at $102.18 per share under a Rule 10b5-1 plan. The trust's reported holdings after the sale were 204,698 shares.

Wayfair Inc. CFO and Chief Admin Officer Kate Gulliver had 23,468 restricted stock units convert into Class A common stock on October 1, 2026. The issuer withheld 11,348 shares to satisfy her tax-withholding obligation upon vesting, at a reported price of $101.37 per share. Additional RSUs are scheduled to vest on January 1 and April 1, 2027, subject to continued service.

Wayfair Inc. officer Jon Blotner, whose title is Pres., Commercial & Operations, reported selling 6,056 Class A common shares on October 2, 2026, at $104.13 per share. The sale was effected under a Rule 10b5-1 trading plan adopted June 9, 2026. On October 1, 2026, 23,451 RSUs converted into Class A shares, and the issuer withheld 11,340 shares to satisfy tax withholding at $101.37 per share. One RSU transaction reported 45,884 RSUs following the transaction.

Wayfair Inc. director Steven Conine reported selling a total of 69,000 shares of Wayfair Class A Common Stock on September 14, 2026 in a series of open-market transactions. The sales were made under a Rule 10b5-1 trading plan adopted on May 6, 2026, at weighted-average prices within ranges from about $97.82 to $106.36 per share. After these transactions, he continues to hold 22,857 shares indirectly through SK Ventures LLC, of which he is a member and may be deemed a beneficial owner.

Wayfair Inc. (W) reported that Chief Executive Officer and director Niraj Shah sold an aggregate of 69,000 shares of Class A common stock on September 14, 2026 in a series of open‑market transactions. The reported weighted‑average sale prices for the trade blocks ranged from $98.27 to $106.09 per share, with underlying execution ranges between $97.80 and $106.35 as described in multiple footnotes. All sales were effected pursuant to a Rule 10b5‑1 trading plan adopted on May 6, 2026. A separate line reports 22,857 shares of Class A common stock held indirectly through SK Ventures LLC, of which Shah is a member and may be deemed a beneficial owner.

Wayfair Inc. (W) reported that Jon Blotner, Pres., Commercial & Operations, sold 6,968 shares of Class A Common Stock on September 8, 2026 at $100.22 per share in an open-market transaction. After this sale, he directly holds 110,376 shares and is also deemed a beneficial owner of 100 additional shares held by his spouse. The sale was effected under a Rule 10b5-1 trading plan adopted on June 9, 2026.

Wayfair Inc. Chief Executive Officer Niraj Shah reported multiple open-market sales of 69,000 shares of Class A Common Stock on August 12, 2026. The sales, executed in several tranches at weighted average prices between $101.98 and $105.43 per share, were made pursuant to a Rule 10b5-1 trading plan adopted on May 6, 2026. The filing also reports indirect ownership of 22,857 shares held by SK Ventures LLC, of which Shah is a member and may be deemed a beneficial owner.

Wayfair Inc. director Steven Conine reported open-market sales of 69,000 shares of Class A common stock on August 12, 2026, in five tranches at weighted-average prices of $101.98, $102.89, $103.72, $104.69, and $105.42 per share. The sales were made under a Rule 10b5-1 trading plan adopted on May 6, 2026. Conine is also reported as a potential beneficial owner of 22,857 shares held indirectly through SK Ventures LLC.

Wayfair Inc. director Jeremy King reported an acquisition of 2,422 shares of Class A Common Stock on August 12, 2026, reflecting a grant of restricted stock units (RSUs). These RSUs vest upon a service condition: 1/4 of the underlying shares on November 1, 2026, and an additional 1/4 after each three-month period of continuous service thereafter. Following this award, King is reported as owning 19,965 shares of Class A Common Stock directly.

JUNG ANDREA reported acquisition or exercise transactions in this Form 4 filing.

Wayfair Inc. director Andrea Jung received an equity award representing 2,422 shares of Class A Common Stock, granted in the form of restricted stock units. These RSUs vest upon meeting a service condition: one quarter vests on November 1, 2026, with additional quarters vesting every three months of continuous service thereafter. Following this grant, Jung holds 7,154 shares directly and 15,703 shares indirectly through a revocable trust, for which she is the sole trustee and beneficiary.

Wayfair Inc. Chief Technology Officer Fiona Tan reported compensation-related equity activity involving Class A Common Stock and restricted stock units (RSUs) on July 1, 2026. She exercised RSUs to acquire 27,073 shares and 1,198 shares of Class A Common Stock at a conversion price of $0.00 per share.

To cover tax obligations from the RSU vesting, 14,357 shares of Class A Common Stock were withheld by Wayfair at $95.14 per share, which is a non-market, tax-withholding disposition rather than an open-market sale. Following these transactions, Tan holds 25,280 shares of Class A Common Stock directly.

She also indirectly holds 211,698 shares of Class A Common Stock through a revocable trust, where she serves as trustee and members of her immediate family are the sole beneficiaries. Footnotes indicate that each RSU represents a contingent right to receive one share when vested, and remaining RSUs are scheduled to vest in tranches between October 1, 2026 and April 1, 2027, subject to continued service.

Wayfair Inc. CFO and Chief Admin Officer Kate Gulliver reported routine equity compensation activity. On July 1, 2026, restricted stock units (RSUs) converted into Class A Common Stock, including 22,428 shares from a 2026 grant and smaller tranches from 2021–2023 grants. To cover tax obligations on the RSU vesting, 11,347 shares of Class A Common Stock were withheld by Wayfair at $95.14 per share, rather than sold in the open market. After these transactions, Gulliver directly held 182,537 shares of Class A Common Stock, and additional RSUs remain scheduled to vest between October 1, 2026 and April 1, 2027 under service-based conditions.

Wayfair Inc. president Jon Blotner reported a mix of equity transactions, including an open-market sale and RSU vesting-related moves. He sold 5,925 shares of Class A Common Stock on July 2, 2026 at an average price of $96.29 per share under a pre-arranged Rule 10b5-1 trading plan.

On July 1, 2026, he exercised Restricted Stock Units to acquire 23,450 shares, and 11,339 shares were withheld by Wayfair to cover tax obligations at $95.14 per share. Following these transactions, he holds 117,344 shares directly and 100 shares indirectly through his spouse, in addition to unvested RSUs scheduled to vest through April 1, 2027.

Gulliver Kate reported acquisition or exercise transactions in this Form 4 filing.

Wayfair Inc. reported that CFO and Chief Admin Officer Kate Gulliver received a grant of 89,714 Restricted Stock Units (RSUs), each representing one share of Class A Common Stock upon vesting. The award was granted on May 1, 2026 and vests in four service-based installments through April 1, 2027.

Subject to continued service, 22,428 shares will vest on July 1, 2026, 22,429 shares on October 1, 2026, 22,428 shares on January 1, 2027, and 22,429 shares on April 1, 2027. After this grant, she directly holds 89,714 RSUs.

Blotner Jon reported acquisition or exercise transactions in this Form 4 filing.

Wayfair Inc. reported that Pres., Commercial & Operations Jon Blotner received a grant of 91,768 restricted stock units (RSUs), each representing one share of Class A common stock when vested. The award is subject to a service condition and has no expiration date.

Subject to continued service, 22,942 RSUs are scheduled to vest on each of July 1, 2026, October 1, 2026, January 1, 2027, and April 1, 2027. Following this grant, Blotner holds 91,768 RSUs directly.

Tan Fiona reported acquisition or exercise transactions in this Form 4 filing.

Wayfair Inc. disclosed that Chief Technology Officer Fiona Tan received a grant of 108,292 Restricted Stock Units (RSUs), each representing a right to receive one share of Class A Common Stock when vested. This is a compensation-related equity award rather than a market purchase or sale.

The RSUs were granted on May 1, 2026 and vest based on continued service. Subject to Ms. Tan’s continued employment, 27,073 shares will vest on each of July 1, 2026, October 1, 2026, January 1, 2027, and April 1, 2027, and they have no expiration date.

Wayfair Inc. director Steven Conine reported open-market sales of a total of 120,000 shares of Class A Common Stock on April 23–24, 2026, at weighted-average prices in the high-$70s per share. The sales were effected under a Rule 10b5-1 trading plan adopted on May 29, 2025, indicating they were pre-arranged. Following these transactions, Conine directly holds 429,073 shares and has an additional 22,857 shares held indirectly through SK Ventures LLC, of which he is a member and may be deemed a beneficial owner.

Wayfair Inc. Chief Executive Officer Niraj Shah reported open-market sales of 120,000 shares of Class A Common Stock on April 23–24, 2026. The transactions were executed at prices generally in the high-$70 range per share and are described as open-market sales.

According to a footnote, these sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on May 29, 2025, indicating they were scheduled in advance. After the reported sales, Shah held 429,137 shares directly. In addition, 22,857 shares are owned by SK Ventures LLC, of which Shah is a member and may be deemed a beneficial owner.

Wayfair Inc. executive Jon Blotner reported an update to a prior insider filing reflecting an inheritance-related transfer. On April 1, 2026, his spouse received 100 shares of Wayfair Class A Common Stock from an inherited IRA account at no stated price, making Blotner an indirect beneficial owner of these 100 shares held by his spouse.

Wayfair Inc. director Steven Conine reported a share class conversion, not an open-market trade. On April 20, 2026, he converted 500,000 shares of his Class B Common Stock into 500,000 shares of Class A Common Stock at $0.00 per share in a derivative conversion.

After the conversion, Conine directly holds 549,073 shares of Class A Common Stock and 8,633,304 shares of Class B Common Stock. He also has indirect ownership of 22,857 Class A shares held by SK Ventures LLC, where he is a member and may be deemed a beneficial owner.

Wayfair Inc. Chief Executive Officer Niraj Shah converted 500,000 shares of his Class B Common Stock into Class A Common Stock on April 20, 2026. Each Class B share is convertible into one Class A share and has no expiration date.

Following the conversion, he directly holds 549,137 shares of Class A Common Stock and 8,634,496 shares of Class B Common Stock. An additional 22,857 Class A shares are held indirectly through SK Ventures LLC, an entity of which he is a member and may be deemed a beneficial owner.

Wayfair Inc. Chief Technology Officer Fiona Tan reported routine equity compensation activity involving restricted stock units and related tax withholding. On April 1, 2026, she exercised RSUs covering 23,093 shares of Class A Common Stock at an exercise price of $0.00 per share as the awards vested.

To satisfy tax withholding obligations on the vesting, the issuer withheld 11,727 shares of Class A Common Stock at $75.25 per share, a non‑market disposition classified as a tax payment rather than an open‑market sale. Following these transactions, Tan holds 11,366 shares of Class A Common Stock directly and 211,698 shares indirectly through a revocable trust where she serves as trustee.

Footnotes state that each RSU represents one share when vested. An RSU grant from April 18, 2022 leaves 4,795 shares scheduled to vest in four substantially equal quarterly installments starting July 1, 2026, subject to continued service. A separate RSU grant from March 18, 2026 had its service condition fully satisfied on April 1, 2026.

Wayfair Inc. executive Kate Gulliver, the CFO and Chief Administrative Officer, reported multiple compensation-related stock transactions on Class A Common Stock. She exercised restricted stock units (RSUs) covering 19,041 shares, converting them into common shares at a stated price of $0.00 per share.

To cover related tax obligations from these RSU vestings, 9,208 shares of Class A Common Stock were withheld by Wayfair at $75.25 per share. After these transactions, Gulliver directly holds 159,071 shares of Wayfair Class A Common Stock.

Footnotes explain that additional RSUs granted in 2021, 2022, and 2023 remain unvested and are scheduled to vest in quarterly installments starting on July 1, 2026, contingent on continued service.

Wayfair Inc. executive Jon Blotner, President of Commercial & Operations, reported equity transactions involving the company’s Class A common stock and RSUs. On April 2, 2026, he completed an open‑market sale of 4,790 shares at $72.19 per share under a pre‑arranged Rule 10b5‑1 trading plan, leaving him with 111,158 shares directly held.

On April 1, 2026, Blotner exercised RSUs to acquire a total of 19,057 shares of Class A common stock at a stated price of $0.00 per share. In connection with RSU vesting, 9,216 shares were withheld at $75.25 per share to cover tax obligations, which is a non‑market disposition.

The filing notes that each RSU represents a contingent right to receive one share when vested. Unvested RSUs remain outstanding, including 326 shares scheduled to vest on July 1, 2026, 327 shares on October 1, 2026, and an aggregate of 729 shares vesting in substantially equal quarterly amounts beginning July 1, 2026, all subject to continued service.

Wayfair Inc. director Michael Andrew Kumin reported updated equity holdings and a new stock award. He received 3,176 shares of Class A Common Stock as a grant, represented by restricted stock units. These RSUs vest as to one quarter of the shares on May 1, 2026, with an additional quarter vesting after each three-month period of continuous service.

The amendment also reflects that 56,000 shares were transferred from TOF Capital, an entity for which Kumin is the managing member, so that these shares are now held directly in his individual capacity. Following these changes, he beneficially owns 319,753 shares directly, including 160 shares in a separately managed account.

Wayfair Inc. director Andrea Jung reported a mix of equity grants and ownership reclassification in Wayfair Class A Common Stock. On August 14, 2025, she received a grant of 3,177 restricted stock units (RSUs), bringing her direct holdings to 4,732 shares of Class A stock.

A prior transaction dated June 27, 2025, now amended, shows 15,703 shares of Class A Common Stock being transferred from her individual account to a revocable trust. A footnote clarifies that Jung is the sole trustee and beneficiary of the trust, so this shift largely changes the form of ownership rather than her economic interest. After these transactions, she holds shares both directly and indirectly through the revocable trust.

Wayfair Inc. director Steven Conine reported selling 10,394 shares of Class A Common Stock in open-market transactions on March 25, 2026. The shares were sold in three blocks at weighted average prices of $77.62, $78.48, and $79.34 per share under a Rule 10b5-1 trading plan adopted on May 29, 2025.

Following these sales, Conine directly holds 49,073 Class A shares. He also has indirect beneficial ownership of 22,857 additional shares through SK Ventures LLC, of which he is a member and may be deemed a beneficial owner.

Wayfair Inc. Chief Executive Officer Niraj Shah sold 10,611 shares of Class A common stock in open-market transactions. The sales occurred in three trades on March 25, 2026 at weighted average prices of $77.64, $78.54, and $79.38, each executed over multiple price levels. These transactions were made under a pre-arranged Rule 10b5-1 trading plan adopted on May 29, 2025. Following the sales, Shah holds 49,137 Wayfair shares directly and 22,857 shares indirectly through SK Ventures LLC, where he may be deemed a beneficial owner.

Wayfair Inc. Chief Executive Officer Niraj Shah reported open-market sales of 109,389 shares of Class A Common Stock. The sales occurred on March 23–24, 2026 at prices reported between $75.45 and $78.44 per share, with footnotes describing weighted-average prices and detailed intra-day ranges.

These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on May 29, 2025, indicating they were pre-arranged. Following these sales, Shah holds 59,748 shares directly, and an additional 22,857 shares indirectly through SK Ventures LLC, of which he is a member and may be deemed a beneficial owner.

Wayfair Inc. director Steven Conine reported open-market sales of 109,606 shares of Class A Common Stock. The trades occurred on March 23–24, 2026 at prices between $75.00 and $78.91 per share, executed under a pre-arranged Rule 10b5-1 trading plan adopted on May 29, 2025.

Following these transactions, Conine holds 59,467 shares directly. An additional 22,857 shares are held indirectly through SK Ventures LLC, an entity of which he is a member and may be deemed a beneficial owner. The filing shows net selling activity but also a substantial remaining equity position.

Tan Fiona reported acquisition or exercise transactions in this Form 4 filing.

Wayfair Inc. reported that Chief Technology Officer Fiona Tan received a grant of 21,457 restricted stock units (RSUs) tied to its Class A common stock. Each RSU represents the right to receive one share when it vests. These RSUs vest after a service condition is met, which will be fully satisfied on April 1, 2026. Following this award, Tan holds 21,457 RSUs directly.

Gulliver Kate reported acquisition or exercise transactions in this Form 4 filing.

Wayfair Inc. reported that CFO and Chief Admin Officer Kate Gulliver received a grant of 17,848 restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of Wayfair Class A common stock upon vesting. These RSUs vest based on continued service and the service condition will be fully satisfied on April 1, 2026. Following this grant, her reported direct RSU holdings from this award total 17,848 units, reflecting compensation rather than an open‑market stock purchase or sale.

Blotner Jon reported acquisition or exercise transactions in this Form 4 filing.

Wayfair Inc. reported that Pres., Commercial & Operations Jon Blotner received a grant of 18,549 restricted stock units (RSUs). Each RSU represents a right to receive one share of Class A common stock when it vests. The service condition for these RSUs will be fully satisfied on April 1, 2026, at which time the shares become deliverable, and there is no expiration date on the award. Following this grant, Blotner holds 18,549 RSUs directly as reported in this filing.

Frost Diana reported acquisition or exercise transactions in this Form 4 filing.

Wayfair Inc. director Diana Frost received an equity award of 3,176 shares of Class A Common Stock in the form of restricted stock units. The award was granted at a price of $0.00 per share and increased her directly owned stake to 8,304 shares.

The RSUs vest over time based on continued service. The service condition is satisfied for 1/4 of the shares on May 1, 2026, and for an additional 1/4 of the shares after each three-month period of continuous service following that date.

NAYLOR JEFFREY G reported acquisition or exercise transactions in this Form 4 filing.

Wayfair Inc. director Jeffrey G. Naylor reported receiving a grant of 3,176 shares of Class A common stock in the form of restricted stock units. These RSUs vest over time based on continued service, with one quarter vesting on May 1, 2026 and additional quarters vesting every three months of continuous service thereafter.

After this award, Naylor’s directly held Class A common stock totaled 33,052 shares, reflecting his updated beneficial ownership position.

Kumin Michael Andrew reported acquisition or exercise transactions in this Form 4 filing.

Wayfair director Michael Andrew Kumin reported receiving 3,176 shares of Wayfair Class A common stock on March 5, 2026 as a grant or award at a price of $0.00 per share. Each share is issuable upon vesting of a restricted stock unit. The RSUs vest once a service condition is met: one-quarter vests on May 1, 2026, with an additional one-quarter vesting after each three-month period of continuous service thereafter.

After this award, Kumin directly owns 263,753 shares, which include 160 shares in a separately managed account for his benefit. He also has indirect interests in 56,000 shares held by TOF Capital, where he is managing member, and 4,000 shares held by the Great Hill Partners Profit Sharing Plan Trust, a retirement trust for his benefit.

Wayfair Inc. co-founder and director Steven Conine sold 26,950 shares of Class A Common Stock on February 26, 2026 in open-market transactions under a pre-set Rule 10b5-1 trading plan. The sales were executed in multiple trades at weighted-average prices of $77.48, $78.53, $79.34 and $80.32 per share, with detailed price ranges noted in the filing.

After these direct sales, Conine directly owned 169,073 Wayfair Class A shares. He also indirectly owned 22,857 shares through SK Ventures LLC, an entity of which he is a member and may be deemed a beneficial owner.

Wayfair Inc. Chief Executive Officer Niraj Shah reported open‑market sales of a total of 27,000 shares of Wayfair Class A common stock on February 26, 2026. The transactions, all coded as sales, were executed at weighted average prices of $77.23, $78.56, $79.36, and $80.32, with underlying trades occurring in narrow price ranges around each average.

These sales were carried out under a Rule 10b5‑1 trading plan adopted by Shah on May 29, 2025, indicating they were pre‑scheduled rather than discretionary. After the reported sales, Shah directly owned 169,137 shares of Wayfair Class A common stock and indirectly held 22,857 shares through SK Ventures LLC, of which he is a member and may be deemed a beneficial owner.

Wayfair Inc. director and co-founder Steven Conine reported open-market sales of Class A common stock under a pre-set Rule 10b5-1 trading plan. On February 23, 2026, he sold a total of 93,050 shares in multiple transactions at reported weighted-average prices ranging from about $73 to $81 per share. Following these sales, he directly holds 196,023 Wayfair Class A shares and indirectly holds 22,857 additional shares through SK Ventures LLC, of which he is a member and may be deemed a beneficial owner.

Wayfair Inc. Chief Executive Officer Niraj Shah reported open-market sales of a total of 93,000 shares of Class A Common Stock on February 23, 2026. The trades were executed under a pre-arranged Rule 10b5-1 trading plan adopted on May 29, 2025.

The shares were sold in multiple transactions at weighted average prices, with individual trade prices ranging from $73.18 to $81.15 per share. After these sales, Shah directly owned 196,137 Wayfair Class A shares and also had indirect beneficial ownership of 22,857 shares held by SK Ventures LLC, where he is a member.

Wayfair Inc. Chief Technology Officer Fiona Tan reported two bona fide gift transfers of 11,370 shares each of Class A common stock on February 23, 2026. One transaction reduced her direct holdings to zero, while another involved indirectly held shares.

The indirectly held shares are associated with a revocable trust, for which she is trustee and whose beneficiaries are members of her immediate family. Following these reported gifts, 211,698 shares of Class A common stock remained held indirectly through the revocable trust.

Wayfair Inc. director Diana Frost reported a routine tax-related share withholding. On 02/02/2026, 548 shares of Wayfair Class A Common Stock were withheld by the company at $104.72 per share to satisfy her tax obligations from vested Restricted Stock Units. After this transaction, she beneficially owns 5,128 Class A shares directly.

Wayfair Inc. director and Co-Founder Steven Conine reported selling a total of 150,000 shares of Class A common stock on January 23, 2026 in three open-market transactions under a Rule 10b5-1 trading plan adopted on May 29, 2025.

The sales were executed at weighted average prices of $108.34 for 67,608 shares, $109.26 for 74,408 shares, and $109.73 for 7,984 shares, each representing multiple trades within disclosed price ranges. Following these transactions, Conine directly owned 289,073 Wayfair Class A shares and indirectly held 22,857 additional shares through SK Ventures LLC.

Wayfair Inc. Chief Executive Officer and director Niraj Shah reported multiple open-market sales of Class A Common Stock. On January 23, 2026, he sold 66,945 shares at a weighted average price of $108.34, 75,194 shares at $109.26, and 7,861 shares at $109.74, in each case through market transactions.

The sales were carried out under a Rule 10b5-1 trading plan adopted on May 29, 2025, which pre-schedules trades. After these transactions, Shah directly beneficially owned 289,137 shares of Wayfair Class A Common Stock and indirectly beneficially owned 22,857 shares held by SK Ventures LLC, where he is a member and may be deemed a beneficial owner.

Wayfair Inc. Chief Technology Officer Fiona Tan, through a revocable trust, reported a planned sale of Class A common stock. On January 13, 2026, the revocable trust sold 9,000 shares at $119 per share. After this transaction, the trust beneficially owned 200,328 Wayfair Class A shares, reported as indirectly owned by Tan.

The filing notes that these sales were carried out under a Rule 10b5-1 trading plan established by the reporting person as trustee for the revocable trust on August 5, 2025, indicating the transactions were pre-arranged under that plan rather than made on an ad hoc basis.