KANE CHARLES 4
Research Summary
AI-generated summary
Symbotic (SYM) Director Charles Kane Sells 2,000 Shares
What Happened
Charles Kane, a director of Symbotic, sold 2,000 shares of Class A Common Stock on April 1, 2026, in an open-market transaction at $53.74 per share for total proceeds of $107,480. The sale was executed under a Rule 10b5-1 trading plan entered into on December 8, 2025. The transaction followed a redemption of 2,000 Symbotic Holdings Units into 2,000 shares of Class A Common Stock; corresponding Class V-1 shares were canceled.
Key Details
- Transaction date: April 1, 2026. Sale price: $53.74 per share; total proceeds $107,480.
- Items reported as "other acquisition/disposition" (code J) reflect the redemption of 2,000 Symbotic Holdings Units for 2,000 Class A shares and the cancellation/retirement of 2,000 Class V-1 shares.
- Trading plan: 10b5-1 plan established Dec 8, 2025 (confirmed in filing).
- Shares owned after the transaction: not specified in this Form 4.
- Filing date: April 3, 2026 — reported promptly (not marked late).
Context
- Symbotic Holdings Units are paired with Class V-1 shares and are redeemable one-for-one for Class A shares under Symbotic Holdings' LLC agreement; upon redemption the paired V-1 shares are canceled. Class V-1 shares have no economic rights but carry one vote per share.
- The sale was performed pursuant to a pre-established 10b5-1 plan, a common mechanism insiders use to sell shares on a scheduled basis; such sales are generally considered routine trading under a plan rather than an ad hoc signal of sentiment.