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Savers Value Village insider sells shares under Rule 10b5-1 plan
The general counsel sold 55,000 shares at a weighted average price of $11.80, after exercising options at a $1.41 exercise price.
Savers Value Village, Inc. saw insider selling after its general counsel, Richard A. Medway, sold 55,000 shares of SVV at a weighted average price of $11.80 per share, according to an SEC Form 4 filed and summarized by Yahoo Finance.
The filing indicates Medway exercised 55,000 stock options across two days, August 5 and August 7, at an exercise price of $1.41. The shares from those option exercises were sold immediately at the $11.80 weighted average price, with the sales facilitated under a Rule 10b5-1 plan.
Yahoo Finance also notes that, following the transactions, Medway’s direct share position stands at 14,440 shares. The outlet adds that this does not capture the executive’s broader exposure, which includes additional direct derivative securities tied to these option transactions.
In the filing context described by Yahoo Finance, the trades were not characterized as discretionary timing, because the Rule 10b5-1 plan was established on March 18. Yahoo Finance also points to the company’s specialty retail model, which sells pre-owned merchandise through store networks across the United States, Canada, and Australia.