Sanjay Mehrotra offloaded nearly 40,000 shares under a prearranged plan, retaining over 994,000 shares directly and indirectly.
Micron Technology CEO Sanjay Mehrotra sold $38 million worth of stock, approximately 40,000 shares, following an 84% surge in the company’s shares over the past month. The sales were disclosed in recent SEC Form 4 filings and executed under a Rule 10b5-1 trading plan established before the stock’s rally.
Despite the sale, Mehrotra retains 387,064 shares directly and another 607,075 indirectly through compensation awards. Rule 10b5-1 plans allow insiders to set predetermined trading parameters, removing discretion from the timing of sales. Micron’s stock recently entered the trillion-dollar market cap club ahead of its June 24 earnings report.
Insider sales are not inherently negative, often serving personal financial needs such as diversification or tax obligations. The filings indicate no deviation from the prearranged plan, which predates the stock’s recent gains.