Urgent.ly Inc. (NASDAQ:ULY) CEO Ben Volkow recently sold a portion of his shares in the company, according to the latest filings with the Securities and Exchange Commission. The transactions, which took place on June 24 and 25, involved the sale of 1,800 shares at prices ranging from $1.51 to $1.68, for a total of approximately $2,890.
The sales were made pursuant to a pre-arranged 10b5-1 trading plan, which allows insiders in a company to establish a predetermined plan to buy or sell shares at a future date. This plan was adopted by Volkow on November 20, 2023, providing a systematic approach to stock disposition and potentially avoiding any allegations of insider trading.
On the first day of reported trading, Volkow sold 1,000 shares of Urgent.ly Inc. at an average price of $1.6505 per share. The next day, he sold another 800 shares at an average price of $1.5503. The difference in the average prices of these consecutive days reflects the volatility in the Urgent.ly share price.
Following these transactions, Ben Volkow’s remaining stake in the company stands at 495,188 common shares, indicating significant continued investment in the future of Urgent.ly. Investors often follow insider sales closely because they can provide insight into an insider’s opinion of the company’s valuation.
Urgent.ly, a company specializing in computer processing and data preparation, has not issued any statement regarding these transactions at the time of writing. Investors and analysts will continue to watch insider activity as an indicator of confidence in the company’s results and strategic direction.
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