Micron Technology CEO Sanjay Mehrotra plans to sell up to 200,000 shares of the chipmaker's stock, valued at approximately $20 million. The sales will be conducted through the Mehrotra Family Trust, for which the CEO serves as a trustee.
The transaction is structured under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling shares to avoid accusations of insider trading. Sales are slated to commence no earlier than November 7, 2024, and the plan will remain active until all allotted shares are sold or by November 7, 2026.
While 10b5-1 plans are common for corporate executives, a sale of this magnitude by a CEO is a notable event for investors. It provides transparency regarding the executive's personal financial planning, though it does not necessarily reflect a change in the company's operational outlook.
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