Collins Spencer 4

What Happened Spencer Collins, Chief Legal Officer of ARM Holdings plc, sold a total of 51,961 American Depositary Shares (ADSs) in open-market transactions on May 11, 2026, generating approximately $11.0 million in proceeds. The sales were reported as disposals (code S) in eight lots:

• 836 shares @ $207.77 = $173,696
• 1,849 shares @ $208.68 = $385,849
• 5,353 shares @ $209.52 = $1,121,561
• 9,815 shares @ $210.53 = $2,066,352
• 10,674 shares @ $211.46 = $2,257,124
• 11,197 shares @ $212.51 = $2,379,474
• 7,371 shares @ $213.59 = $1,574,372
• 4,866 shares @ $214.41 = $1,043,319

This filing reports sales (liquidity event), not purchases; the filing does not state a reason for the disposals.

Key Details

• Transaction date: May 11, 2026; Filing date: May 13, 2026 (appears timely — filed within two business days).
• Price range: ADSs sold at prices reported between $207.01 and $214.94 (footnotes give narrower ranges per lot).
• Total shares sold: 51,961 ADSs; Total proceeds: ~$11,001,747.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: F1 clarifies each ADS represents 1 Ordinary Share (0.001 GBP nominal). F2–F9 note the reported amounts are weighted-average prices with per-price breakdowns available upon request to the SEC/issuer.
• Transaction code: S = Sale (open-market). No 10b5-1 plan, tax withholding, or late-filing flag is indicated in the provided data.

Context

• ADS note: These are American Depositary Shares representing ARM ordinary shares; each ADS equals one ordinary share.
• For retail investors: purchases by insiders are generally more informative than routine sales; sales by executives can reflect many non-opinion reasons (liquidity, diversification, tax obligations), but the filing gives no stated motive.
• This is an officer-level sale (Chief Legal Officer), not a 10% owner transaction; the filing simply reports the disposition of shares.