Viasat CEO Sells 200,000 Shares for $7.0 Million. Should investors worry?
Key Points
200,000 shares were sold via indirect trust ownership on Dec. 15, 2025, generating $7,018,433.14 at a weighted average sale price of $35.09 per share.
The transaction represented 11.53% of Mark D. Dankberg's total indirect holdings, reducing the indirect balance from 1,734,993 to 1,534,993 shares.
All shares were disposed through the Dankberg Family Trust.
On Dec. 15, 2025, Mark D. Dankberg, Chairman and CEO of Viasat (NASDAQ:VSAT), executed the open-market sale of 200,000 shares, valued at approximately $7.0 million, through indirect trust holdings according to the SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (indirect) | 200,000 |
| Transaction value | $7.0 million |
| Post-transaction shares (indirect) | 1,534,993 |
Transaction value based on SEC Form 4 weighted average purchase price ($35.09); post-transaction value based on Dec. 15, 2025 market close.
Key questions
- Did the sale impact direct or indirect ownership, and how were the trusts involved?
The entire sale was executed through an indirect family trust account, reducing trust holdings by 11.53%. - How does this transaction relate to Viasat's recent stock performance and valuation?
The sale occurred with Viasat shares priced at around $35.09, following a 285% one-year total return as of Dec. 15, 2025, suggesting the transaction was timed during a period of significant price appreciation. - What does the Rule 10b5-1 plan disclosure indicate about intent or trading cadence?
The filing notes this transaction was made pursuant to a Rule 10b5-1 plan adopted on Sept. 15, 2025, reflecting a pre-scheduled approach rather than opportunistic trading, and aligns with a capacity-driven reduction in trust-held shares.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close Dec. 15, 2025) | $35.09 |
| Market capitalization | $4.57 billion |
| Revenue (TTM) | $4.58 billion |
| 1-year price change | 284.64% |
*1-year price change calculated using Dec. 15, 2025 as the reference date.
Company snapshot
- Viasat offers satellite-based broadband internet, in-flight connectivity, mobile broadband, and secure communications solutions across commercial and government markets.
- Revenue is generated through subscription-based services, hardware sales, and long-term service contracts leveraging proprietary satellite infrastructure and network technology.
- Its primary customers include consumers, enterprises, commercial airlines, maritime operators, and government agencies seeking reliable, high-capacity connectivity solutions.
Viasat operates as a leading provider of satellite communications and broadband connectivity, serving a diverse global client base. The company leverages advanced satellite technology to deliver high-speed internet and secure communications to both commercial and government sectors. Viasat's integrated platform and vertically aligned business model position it competitively in the rapidly evolving connectivity and communications landscape.
What this transaction means for investors
Insiders may sell shares for various reasons. It could be a portfolio management move, or fund raising for college tuition or a new home. To avoid the perception that investors might think an insider is trying to time a trade, Rule 10b5-1 was established in 2000. This transaction was performed under that rule.
Viasat's chairman and CEO Mark Dankberg adopted the plan for this sale on Sept. 15. It's likely he wanted to lock in some profits after Viasat shares took off beginning in July. The stock has soared more than 150% from the time the company announced it was chosen to deliver next-generation encryption for U.S. government cloud data centers in late July.
Mr. Dankberg still retained nearly 90% of the holdings in his family trust after this sale. The company is developing a global satellite communications network to power high-quality, dependable, safe, cost-effective, and speedy broadband connections. Viasat could still have plenty of growth ahead, and investors shouldn't consider this transaction as any less conviction in the company by its chairman and CEO.
Glossary
Form 4: A required SEC filing disclosing insider trades of company stock by officers, directors, or significant shareholders.
Open-market sale: The sale of securities on a public exchange, rather than through private transactions or company programs.
Indirect holdings: Shares owned through trusts or other entities, not directly in the individual's name.
Trust holdings: Shares managed by a trust for the benefit of an individual or group.
Dispositive event: A transaction where ownership of securities is transferred or sold, as opposed to administrative changes.
Rule 10b5-1 plan: A prearranged trading plan allowing insiders to sell stock on a set schedule, reducing accusations of insider trading.
Weighted average sale price: The average price per share received in a transaction, weighted by the number of shares sold at each price.
Total return: The investment's price change plus all dividends and distributions, assuming those payouts are reinvested.
TTM: The 12-month period ending with the most recent quarterly report.
Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.