This filing is a continuation of a mechanical selling program. No new signal — the insider's pre-arranged plan is on autopilot. Monitor for any change in the pattern (size increase, acceleration, or plan termination) which would be a more meaningful signal.
Price Chart
Executive Summary
Co-founder and Director Benjamin Silbermann filed a Form 144 notice of intent to sell 46,875 shares of Class A Common Stock, valued at approximately $1.03 million. This filing is part of a recurring pattern of nearly identical monthly sales through a trust, each for roughly the same share count and dollar value, suggesting a pre-arranged 10b5-1 trading plan rather than a discretionary signal. The sale is routine and not material relative to Silbermann's total holdings or the company's market cap.
Key Facts
- Co-founder and Director Benjamin Silbermann filed Form 144 to sell 46,875 shares of Class A Common Stock.
- Estimated proceeds from the proposed sale are approximately $1,032,365 based on the filing date market price.
- The filing is part of a consistent pattern of monthly sales of identical size (46,875 shares) dating back to at least July 2026, indicating a pre-arranged 10b5-1 plan.
- The shares being sold were acquired as 'Founders Shares' on April 18, 2019.
- The sale is to be executed through The Benjamin and Divya Silbermann Family Trust.
Financial Impact
Proposed sale of ~$1.03 million worth of stock, representing a routine, pre-planned disposition.
Risk Factors
- Continued insider selling, even under a 10b5-1 plan, can create persistent overhang and dampens sentiment over time.
- No indication of a change in business trajectory from this filing.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 144 Filing (Primary) | 0001921094-26-001088 |
| Document: 0001921094-26-001088-index.html | 0001921094-26-001088 |
| Document: 0001921094-26-001088.txt | 0001921094-26-001088 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | Institutional Cluster | $22.32 | awaiting T+20 | — | $21.23 (−4.88%) |
Oct 21, 2026 5d ago | Insider Cluster | $22.93 | awaiting T+20 | — | $21.23 (−7.41%) |
Oct 21, 2026 5d ago | Insider Cluster | $22.93 | awaiting T+20 | — | $21.23 (+7.41%) |
Oct 20, 2026 6d ago | 144 | $22.95 | awaiting T+20 | — | $21.23 (−7.49%) |
Oct 15, 2026 11d ago | 8-K | $21.91 | awaiting T+20 | — | $21.23 (−3.10%) |
Oct 14, 2026 12d ago | 144 | $22.71 | awaiting T+20 | — | $21.23 (−6.52%) |
Oct 13, 2026 13d ago | 144 | $21.76 | awaiting T+20 | — | $21.23 (−2.44%) |
Oct 7, 2026 19d ago | 144 | $20.53 | awaiting T+20 | — | $21.23 (+3.41%) |
Oct 6, 2026 20d ago | 144 | $20.31 | awaiting T+20 | — | $21.23 (+4.53%) |
Oct 6, 2026 20d ago | 144 | $20.31 | awaiting T+20 | — | $21.23 (+4.53%) |
US Market Status
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