GLOBALFOUNDRIES (GFS) legal chief sells 500 pre-planned shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
GLOBALFOUNDRIES Inc. Chief Legal Officer Azar Samak L reported an open-market sale of 500 Ordinary Shares on March 26, 2026 at $45.99 per share. After this transaction, the reporting person directly holds 18,994 Ordinary Shares.
According to the filing, the reporting person is subject to a lock-up agreement that runs until May 10, 2026, and this sale is described as a permissible exemption under that agreement. The transaction was carried out under a pre-established Rule 10b5-1 trading plan adopted before the related offering by the issuer’s majority shareholder, indicating it was pre-planned rather than a discretionary trade.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 500 shares ($22,995)
Net Sell
1 txn
Insider
Azar Samak L
Role
Chief Legal Officer
Sold
500 shs ($23K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Ordinary Shares | 500 | $45.99 | $23K |
Holdings After Transaction:
Ordinary Shares — 18,994 shares (Direct)
Footnotes (1)
- [object Object]
Key Figures
Shares sold: 500 shares
Sale price per share: $45.99 per share
Shares held after transaction: 18,994 shares
+1 more
4 metrics
Shares sold
500 shares
Ordinary Shares sold on March 26, 2026
Sale price per share
$45.99 per share
Open-market sale of Ordinary Shares
Shares held after transaction
18,994 shares
Direct Ordinary Share holdings following sale
Lock-up expiry date
May 10, 2026
End date of lock-up agreement referenced in footnote
Key Terms
Rule 10b5-1 trading plan, lock-up agreement, majority shareholder, open-market sale
4 terms
Rule 10b5-1 trading plan financial
"The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
lock-up agreement financial
"The reporting person is subject to a lock-up agreement that expires on May 10, 2026"
A lock-up agreement is a contract that prevents company insiders and early investors from selling their shares for a fixed period after a stock sale, often after an initial public offering. It matters to investors because it temporarily limits the number of shares that can hit the market, which can keep the share price steadier; when the lock-up ends, a sudden increase in available shares can create extra volatility, revealing insiders’ confidence or lack thereof.
open-market sale financial
"transaction_action: "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
FAQ
What insider transaction did GLOBALFOUNDRIES (GFS) disclose for Azar Samak L?
GLOBALFOUNDRIES reported that Chief Legal Officer Azar Samak L sold 500 Ordinary Shares in an open-market transaction. The sale occurred at a price of $45.99 per share, and following the trade the reporting person directly holds 18,994 Ordinary Shares in the company.
What is the lock-up agreement mentioned in the GLOBALFOUNDRIES (GFS) Form 4?
The Form 4 states the reporting person is subject to a lock-up agreement expiring on May 10, 2026. The agreement was entered into with underwriters in connection with an offering by the issuer’s majority shareholder, and this sale qualifies as a permissible exemption under its terms.
Was the GLOBALFOUNDRIES (GFS) insider sale made under a Rule 10b5-1 plan?
Yes. The footnote explains the sale was effected under a Rule 10b5-1 trading plan adopted by the reporting person before the related offering. Such plans pre-schedule trades, indicating the timing of this 500-share sale was pre-arranged rather than a discretionary market decision.
What role does the insider hold at GLOBALFOUNDRIES (GFS) in this Form 4?
The reporting person in this Form 4 is identified as the Chief Legal Officer of GLOBALFOUNDRIES Inc. This officer role means the person is a senior executive, and their equity transactions must be reported publicly under Section 16 rules using forms such as this Form 4.