Symbotic Inc. (NASDAQ:SYM) shares dropped roughly 8% on Thursday after company insiders carried out several share transactions that were disclosed in regulatory filings.
According to a Form 4 filed with the Securities and Exchange Commission, Director Todd Krasnow sold 19,655 shares of Class A common stock on Thursday at prices that ranged from $53.33 to $54.10. That sale came after Krasnow redeemed 19,655 Symbotic Holdings Units in exchange for an equal number of Class A shares.
In addition to the redemption and sale mentioned above, the filings show Krasnow also sold 6,978 shares at prices between $51.865 and $52.40.
Chief Technology Officer James Kuffner recorded a separate transaction earlier in the week. Kuffner sold 3,878 shares on Monday at prices ranging from $53.45 to $53.54. The filings state that sale was a mandatory sell-to-cover to satisfy tax withholding obligations tied to the vesting of 9,749 restricted stock units (RSUs) that vested on Friday.
The regulatory paperwork also discloses a transfer by Krasnow of 5,000 Symbotic Holdings Units and paired shares of Class V-1 common stock to the Todd and Deborah Krasnow Foundation on Thursday.
Following the reported transactions, Krasnow is listed as holding 177,036 shares directly. He also retains indirect holdings through various trusts and through Inlet View, Inc., where he serves as President and CEO, according to the filings.
Kuffner, after completing the sell-to-cover transaction, is shown as holding 185,126 shares of Class A common stock directly.
The RSUs that yielded the mandatory sell-to-cover were part of a November 2024 award of 116,977 units. The grant is structured to vest over time, with one-third scheduled to vest in November 2025 and the remainder vesting quarterly thereafter.
Symbotic is a developer of warehouse automation technology and robotics systems used in supply chain operations. The company’s recent insider sales and related filings coincided with the intraday decline in the share price reported on Thursday.
Data and filings cited in this report reflect only the transactions disclosed in the referenced SEC Form 4 filings and the restricted stock award details contained in the filings.