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

What Happened
Michael G. Barrett, CEO and Director of Magnite (MGNI), exercised 38,596 stock options and then sold those 38,596 shares on July 15, 2026. The exercise recorded a strike cost of $5.80 per share (total cost $223,857). The shares were sold in open-market transactions at a weighted average price of $20.35 per share, generating gross proceeds of approximately $785,429. Net proceeds before taxes and fees were about $561,572 (proceeds minus exercise cost). This was a sale of shares (routine liquidity), not a purchase.

Key Details

• Transaction date: July 15, 2026.
• Option exercise: 38,596 shares acquired by exercise at $5.80/share = $223,857.
• Sale: 38,596 shares sold at a weighted avg. $20.35/share = $785,429 (sales ranged $20.165–$20.56 per footnote).
• Additional derivative line: reporting shows the derivative conversion/ disposition associated with the exercise (reported at $0.00 in the filing).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Notable footnotes: (1) Transactions were made under a Rule 10b5-1 trading plan adopted March 13, 2026; (2) sales price is a weighted average across multiple trades; (3) the options were fully vested and immediately exercisable; (4) options were granted as compensation.
• Filing timeliness: Form filed July 17, 2026 for July 15 transactions (appears timely under Form 4 rules).

Context
This is a common pattern where an executive exercises vested options and immediately sells the resulting shares (a cashless-equivalent transaction) to realize value. The presence of a Rule 10b5-1 plan means the sale was preplanned and typically viewed as routine liquidity rather than an ad hoc signal about company prospects. The options exercised were granted as compensation and already vested per the filing.