SCHEDULE: Viant Technology Inc. Insider Trading Plan Update

Viant Technology Inc. insider Larry Madden has established a new Rule 10b5-1 trading plan for the sale of up to 144,978 shares.

Summary

• Larry James Madden, identified as a Rule 144 Affiliate of Viant Technology Inc. (DSP), has entered into a new stock trading plan compliant with Rule 10b5-1(c).
• This plan authorizes Goldman Sachs & Co. LLC to execute sales of up to 144,978 shares of Viant Technology Inc. Class A common stock.
• The plan has an adoption date of June 17, 2026, with the first trade scheduled for September 16, 2026, and an end date of March 31, 2027.
• Sales will be executed using a Volume Weighted Average Price (VWAP) or Time Weighted Average Price (TWAP) algorithm, with a daily volume participation target of 10%.
• A cooling-off period of 90 days after adoption or two business days after the disclosure of financial results (up to 120 days) applies before trading can commence.
• Larry Madden may be deemed to beneficially own 1,076,418 shares of Class A Common Stock, representing 5.13% of the outstanding shares, including shares from stock options and convertible units.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it primarily details a pre-planned stock trading strategy by an insider, which is a standard compliance procedure rather than a reflection of the company's operational or financial performance.

Positives

• Establishment of a Rule 10b5-1 trading plan provides a structured and compliant method for an insider to diversify holdings.
• The plan allows for orderly sales over a defined period, potentially mitigating market impact.
• The plan is designed to comply with SEC regulations, offering transparency and adherence to legal frameworks.

Negatives

• The sale of a significant number of shares by an insider could be perceived negatively by the market, potentially impacting share price.
• The plan involves the sale of up to 144,978 shares, which represents a notable portion of the insider's holdings.

Risks

• The plan may be suspended if trading of the shares is suspended, if Goldman Sachs determines it cannot effect transactions due to legal/regulatory reasons, or if Viant Technology Inc. or the client notifies of restrictions.
• Termination of the plan before completion could affect the eligibility of future trading plans for the Rule 10b5-1(c) safe harbor.
• Amendments to the plan could be considered a termination and new adoption, requiring a new cooling-off period and potentially jeopardizing the safe harbor.

Future Outlook

The plan outlines a structured approach for the sale of up to 144,978 shares of Viant Technology Inc. Class A common stock by insider Larry James Madden between September 16, 2026, and March 31, 2027, subject to specific trading algorithms and market conditions.

Management Comments

• Client acknowledges and agrees that Issuer is not a party to the Plan.
• Issuer acknowledges receipt of a copy of the Plan and has concluded that the Plan, assuming the transactions of Shares are executed in accordance with the terms and conditions hereof, does not violate any policy or trading restriction of the Issuer, including the Issuers insider trading policy.
• Client certifies that they are not aware of any material nonpublic information concerning Issuer or its securities, and are not subject to any legal, regulatory, or contractual restriction or undertaking that would prevent GS Entity and/or its affiliates from acting upon the instructions set forth in the Plan. Client further certifies that they are entering into the Plan in good faith, and not as part of a plan or scheme to evade compliance with the federal or state securities laws, and will act in good faith with respect to the Plan.

Industry Context

StockSavvy.ai notes that the establishment of a Rule 10b5-1 trading plan by a significant insider like Larry Madden is a common practice for executives to manage their stock holdings in a compliant manner, especially when dealing with potential liquidity needs or portfolio diversification. This aligns with broader industry trends of corporate insiders utilizing these plans to avoid accusations of insider trading.

Stakeholder Impact

• Shareholders: May perceive the sale of shares by an insider as a negative signal, potentially affecting stock price. However, the structured nature of the 10b5-1 plan aims to mitigate this impact.
• Employees: The plan does not directly impact employees, but any significant stock price movement resulting from the sales could indirectly affect employee stock options or grants.
• Management: The plan is a personal trading strategy for an executive, designed to comply with regulations and manage personal finances.

Next Steps

• Execution of stock sales by Goldman Sachs & Co. LLC according to the terms of the 10b5-1 plan.
• Monitoring of trading activity and compliance with Rule 10b5-1 requirements.
• Potential suspension or termination of the plan based on specified conditions.

Key Dates

Recommendation

The filing details a standard Rule 10b5-1 trading plan for an insider, which is a procedural event rather than a reflection of the company's fundamental performance or outlook. While the sale of shares by an insider can be a short-term negative signal, the plan's structure aims to mitigate market impact. Without additional financial or operational information, a 'hold' recommendation is appropriate, suggesting investors await further company performance updates.

Keywords

10b5-1 Plan, Viant Technology Inc., Insider Trading, Stock Sale, Rule 144, Goldman Sachs, Lawrence James Madden, Class A Common Stock, SEC Filing, Trading Plan