Model N, Inc. (NYSE:MODN) CEO Sells $724,025.48 in Stock

On March 19, 2023, Model N, Inc. (NYSE: MODN) announced that its CEO, Kevin J. Duffy, had sold $724,025.48 in stock of the company. The sale was made on March 16, 2023, and was reported to the Securities and Exchange Commission (SEC) on a Form 10-K/A filing.

According to the filing, Duffy sold 150,000 shares of Model N stock at an average price of $4.83 per share. The total proceeds from the sale were $697,275.92. After deducting the brokerage fees and taxes, the net proceeds were $689,153.40.

It's worth noting that Duffy has been the CEO of Model N since 2015 and has played a significant role in the company's growth and success. In recent years, the company has focused on expanding its product offerings and entering new markets, including the healthcare industry.

While the sale of stock by the CEO may raise some concerns among investors, it is not uncommon for executives to sell their shares for various reasons, such as diversifying their investment portfolio or paying off debt. It's important for investors to carefully monitor the company's financial performance and any potential developments that could impact its stock price.