Urgent.ly Inc. (NASDAQ: ULY) CEO Ben Volkow recently sold a portion of his stake in the company, according to the latest SEC filings. The transactions took place on two separate occasions in the first ten days of June 2024, and the total value of the shares sold amounted to more than $4,468.
On June 7, 2024, Volkow sold 2,000 shares of Urgent.ly Inc. common stock at a weighted average price of $1.7655. The shares were sold in multiple transactions at prices ranging from $1.685 to $1.90. Following this transaction, the director continued to own 516,466 shares in the company.
A few days later, on June 10, Volkow continued to divest and sold another 500 shares. This time, the weighted average price was slightly higher at $1.8752, with individual sales prices ranging from $1.77 to $1.94. Following this sale, Volkow’s stake in Urgent.ly Inc. was reduced to 515,966 shares.
The sales were carried out pursuant to a pre-agreed trading plan under Rule 10b5-1, which Volkow had adopted on November 20, 2023. Such plans allow company insiders to sell a predetermined number of shares at a time default to avoid accusations of insider trading.
Urgent.ly Inc. investors and followers are likely to follow insider transactions closely as they can provide valuable information about the health of the company and the sentiment of its leadership. With the director’s recent sales, market watchers may be curious about the strategic moves behind these transactions and what they might indicate about the company’s future.
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