Tempus AI (NASDAQ:TEM) stock saw a significant plummet of 5.02% in Friday's trading session, closing at $X.XX per share. The sell-off was triggered by a series of insider transactions where several executives, including the CEO and CFO, sold a substantial number of their shares.
According to regulatory filings, key executives such as Chairman and CEO Eric Lefkofsky ($11.97 million), COO Ryan Fukushima ($234,814), CFO James William Rogers ($2.6 million), CAO Ryan Bartolucci ($201,532), EVP and Chief Legal Officer Erik Phelps ($5.07 million), and EVP and General Counsel Andrew Polovin ($5.3 million) sold shares in the company on Tuesday, February 18th.
The transactions were reported as part of the company's equity incentive plans, where shares were sold to cover statutory tax withholding obligations upon the vesting of restricted stock units. While Tempus AI is considered a promising AI stock, the significant insider selling weighed heavily on investor sentiment, leading to the stock's plummet on Friday.
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