The Spill
Alexis Le-Quoc, Datadog's chief technology officer and a director, sold 43,224 Class A shares on Oct. 28 for $12,055,041.91, every lot under a pre-set trading plan (10b5-1) dated June 13, 2025. The insider filing (Form 4) reached the SEC on Oct. 30, two business days later and inside the deadline.
Lag Clock
Two business days from trade to filing, inside the two-business-day deadline (Rule 16a-3).
Signal Check
The 10b5-1 box is checked, and the footnote dates the plan to June 13, 2025, so the terms of this sale were set on paper more than a year before Oct. 28.
What the filing shows
Nine sale rows, 43,224 shares, $12,055,041.91, at weighted-average prices from $276.3801 to $284.334. The footnotes put the individual fills between $275.73 and $284.81 and offer the per-price breakdown on request.
The same day, a conversion row shows 43,224 Class B shares turned into Class A, one for one, at no cost. That is the exact number sold, so the direct Class A count ended the day where it started, at 488,033.
After the filing, Le-Quoc holds 488,033 Class A shares directly and 169 through the Alexis Le-Quoc Revocable Trust, 488,202 in total. The sale was an 8.1% trim of the 531,426 common shares he held before it. Separately, he reports 2,073,582 Class B shares directly and 6,146,835 in the trust; each converts into one Class A share at any time and carries no expiration date.
The plan has a date. The form has nine prices. Everything else is footnotes.
| Type | Shares | Price | Value |
|---|---|---|---|
| Conversion (C) from Class B | 43,224 | $0 | $0 |
| Open-market sale (S), 10b5-1 | 5,670 | $276.3801 | $1,567,075.17 |
| Open-market sale (S), 10b5-1 | 11,430 | $277.3003 | $3,169,542.43 |
| Open-market sale (S), 10b5-1 | 10,324 | $278.2696 | $2,872,855.35 |
| Open-market sale (S), 10b5-1 | 3,480 | $279.1527 | $971,451.40 |
| Open-market sale (S), 10b5-1 | 2,874 | $280.4633 | $806,051.52 |
| Open-market sale (S), 10b5-1 | 3,529 | $281.5381 | $993,547.95 |
| Open-market sale (S), 10b5-1 | 2,717 | $282.3153 | $767,050.67 |
| Open-market sale (S), 10b5-1 | 2,700 | $283.4446 | $765,300.42 |
| Open-market sale (S), 10b5-1 | 500 | $284.334 | $142,167.00 |
The Other Side
Twelve million dollars is the number that will make the rounds. Set against the stake, 43,224 shares is 8.1% of the common Le-Quoc held going in, and the Class B position, 2,073,582 direct plus 6,146,835 in the trust, moved only by the lot converted to be sold. The plan date, June 13, 2025, sits more than 16 months ahead of the trade.
The nine lots climbed through price bands roughly a dollar apart, which fits an order worked across one session, but the lot pattern isn't the evidence for a plan; the checkbox and the footnote are. The form can't say whether this was the first sale under that plan or one in a series, and it doesn't say how the 43,224 figure was arrived at.
What it can't tell you
- Why Le-Quoc sold. The form does not say why.
- The plan's terms. The footnote gives a date, June 13, 2025, and nothing else: no schedule, no price limits, no end date.
- The price of each share. The nine rows carry weighted averages. The fills ran from $275.73 to $284.81, and the full breakdown is available only on request to the SEC, the company or a shareholder.
What to watch
- The next Form 4 from Le-Quoc that cites the June 13, 2025, plan date, and whether it pairs a conversion row with a same-size sale again.
- The Class B counts on a later report, 2,073,582 direct and 6,146,835 in the Alexis Le-Quoc Revocable Trust, and whether either changes.
Original sources
Edited by K. Song. Educational reporting from public filings, not investment advice. Filings can be late, incomplete or amended; check the original source and dates. Free to read; advertising and sponsors pay for it, and they do not pick the stories. How we work · Corrections: [email protected]