CEO Michael Barrett exercised options at $5.80 and sold shares at $22.72, retaining a $9.8 million stake in the ad-tech firm.
Magnite Inc. CEO Michael Barrett sold 294,000 shares on August 6 in a cashless exercise-and-sell transaction, converting options at a $5.80 strike price and selling at a weighted-average price of $22.72. The sale occurred as the stock traded near $24.32 at market close, reflecting an 8% total return over the prior 12 months.
The transaction was executed under a 10b5-1 plan adopted on March 13, pre-determining the timing and volume. Barrett retains direct ownership of 403,074 shares, valued at $9.8 million as of the August 6 close. Magnite’s connected TV revenue surged 36% in recent quarters, driving investor interest.
Shares showed limited immediate reaction to the filing, trading near pre-disclosure levels.