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Insider Trading Arrangements
3 Months Ended
Mar. 31, 2025
shares
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement

Item 5. Other Information

During the period from January 1, 2025 to March 31, 2025, our Chief Executive Officer adopted a contract, instructions or written plans for the sale of our securities as noted below:

 

 

 

 

 

 

 

Trading Arrangement

 

Total Shares Authorized

 

Expiration

Name and Title

 

Action

 

Date

 

Rule 10b5-1*

Non-Rule 10b5-1**

 

to be Sold***

 

Date

Sanjay S. Shukla

 

Adoption

 

2/18/2025

 

X

 

 

481,470

 

2/18/2026

Chief Executive Officer and Director

 

 

 

 

 

 

 

 

 

 

 

_______________

*

Intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act.

**

Non-Rule 10b5-1 trading arrangement” as defined in Item 408(c) of Regulation S-K under the Exchange Act.

***

Represents the maximum number of shares that may be sold pursuant to the 10b5-1 trading arrangement. The number of shares sold is dependent on the satisfaction of certain conditions as set forth in the written plan and the satisfaction of applicable vesting conditions of equity awards. These shares would be sold through option exercises pursuant to a employee stock option grants.

 

In addition, our officers (as defined in Rule 16a-1(f) under the Exchange Act) have historically entered into sell-to-cover arrangements which constitute "non-Rule 10b5-1 trading arrangements" authorizing the pre-arranged sale of shares to our satisfy tax withholding obligations arising exclusively from the vesting of time-vesting or performance-vesting restricted stock units and the related issuance of shares. The amount of shares to be sold to satisfy the our tax withholding obligations under these arrangements has been dependent on future events which cannot be known in advance, including the future trading price of our shares. The expiration date relating to these arrangements has been dependent on future events which cannot be known in advance, including the final vest date of the applicable time-vesting or performance-vesting restricted stock units and the officer’s termination of service.

Name Sanjay S. Shukla
Title Chief Executive Officer and Director
Rule 10b5-1 Arrangement Adopted true
Non-Rule 10b5-1 Arrangement Adopted false
Adoption Date 2/18/2025
Expiration Date 2/18/2026
Aggregate Available 481,470