Director Frederic Simon sells 120,000 shares for $10.3M under 10b5-1 plan; retains 3.22M shares post-sale
Frederic Simon executed 9 separate sales totaling 120,000 shares for $10,300,766.73 on 2026-06-01, reducing his holdings from 3.34M to 3.22M shares (a -3.6% reduction). This transaction is part of a pre-arranged 10b5-1 trading plan adopted 2025-08-12, making it scheduled rather than discretionary. The company is unprofitable (full-year net income was negative) despite strong revenue growth of +24.1%, and the stock has risen 59.5% over the past 30 days and 104.0% over 90 days. Simon's 5 prior trades at FROG showed positive 30-day returns (ranging 35.1% to 40.6% on three May sales), though these prior outcomes cannot be attributed to his trading acumen given the mechanical nature of 10b5-1 execution. The scheduled nature of this filing limits what can be inferred about current conviction.