The transaction, executed under a Rule 10b5-1 plan, reduces the director’s stake but leaves a $121.15 million holding intact.
A Block director sold 18,000 shares at a weighted average price of $80.80, generating proceeds under a prearranged trading plan established March 2. The sale was disclosed in an SEC Form 4 filing on August 24, following the stock’s close at $81.38.
The transaction represents a 1% reduction of the director’s direct holdings, which now total 1.5 million shares valued at $121.15 million. Block’s market capitalization stands at $48.9 billion, with trailing twelve-month revenue of $25.0 billion and net income of $357.1 million.
Shares of Block closed at $82.16 on August 21, reflecting a 3% one-year total return as of the transaction date. The sale was conducted under Rule 10b5-1, which allows insiders to schedule trades in advance to avoid insider trading concerns.