Magnite (MGNI) CEO Michael Barrett Exercises Options & Sells 293,968 Shares

What Happened

• Michael G. Barrett, CEO and Director of Magnite (MGNI), exercised 293,968 stock options (granted as compensation) and immediately sold the same 293,968 shares in an open-market transaction on August 6, 2026.
• Exercise cost: $5.80 per share (total $1,705,014). Sale price: $22.72 per share (total proceeds $6,678,953). Net proceeds before taxes/fees ≈ $4,973,939. This was a sale (routine monetization of vested options), not a new purchase.

Key Details

• Transaction date: 2026-08-06 (reported 2026-08-07). Filing appears timely.
• Option exercise: Code M — 293,968 shares exercised at $5.80/share (total $1,705,014).
• Sale: Code S — 293,968 shares sold at $22.72/share (total proceeds $6,678,953) in an open-market sale.
• Shares owned after transaction: Not specified in the provided filing.
• Notable footnotes: The exercise and sale were executed under a Rule 10b5-1 trading plan adopted March 13, 2026 (Footnote F1). Options were fully vested and immediately exercisable (F2); options were granted as compensation (F3).

Context

• This was an exercise-and-sell (cashless-style) of previously granted, vested options with sale executed under a pre-established 10b5-1 plan—common for insiders to lock in gains or cover exercise/tax costs.
• Transaction codes: M = option exercise/conversion, S = open-market sale. This routine transaction does not, by itself, indicate a change in the CEO’s long-term view of the company.