The sale was non-discretionary to cover tax obligations from equity awards, with shares priced at $95.04.
Qorvo Inc. (NASDAQ:QRVO) President and CEO Robert A. Bruggeworth sold 16,379 shares on August 5 at a weighted average price of $95.04, according to an SEC filing. The transaction was executed to satisfy tax withholding requirements tied to equity awards and does not reflect a change in the executive’s outlook on the stock.
Following the sale, Bruggeworth retains approximately 354,000 shares, maintaining significant exposure to the company. Qorvo’s stock has risen 12% over the past 12 months, closing at $95.25 on August 5 and $95.33 on August 6.
The company, which supplies semiconductor components for wireless and mobile applications, is navigating a pending merger while continuing to serve markets including smartphones and wearables.