FormFactor CEO Mike Slessor Sells 16,002 Shares for $2 Million
Key Points
The CEO disposed of 16,002 shares, representing a total transaction value of ~$2.1 million.
The transaction reduced Slessor's direct equity position in the company by 3%.
The activity was executed through a Rule 10b5-1 trading plan established on August 19, 2025.
Slessor maintains direct ownership of 484,204 shares with a market value of $63.7 million as of the August 14, 2026 market close.
Mike Slessor, CEO of FormFactor, Inc. (NASDAQ:FORM), sold 16,002 shares of common stock on Aug. 14, 2026, according to a recent SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold | 16,002 |
| Transaction value | $2.1 million |
| Post-transaction shares (directly held) | 484,204 |
| Post-transaction value | $63.72 million |
Transaction value based on SEC Form 4 weighted average sale price ($130.95); post-transaction value based on Aug. 14, 2026 market close ($131.60).
Key questions
- How does this sale align with the insider's established trading plan?
The transaction was executed automatically under a Rule 10b5-1 plan adopted on Aug. 19, 2025, which allows insiders to diversify their portfolios through pre-set schedules to avoid concerns regarding non-public information. - What was the market performance context for FormFactor at the time of the transaction?
Shares were priced at a weighted-average price of $130.95 on Aug. 14, 2026, the date on which the stock achieved a 335% one-year return. - What is the scale of the CEO's remaining direct investment?
Following this 3% reduction in stake, Mike Slessor retains direct ownership of 484,204 shares, representing a substantial majority of his equity exposure in the firm.
Company Overview
| Metric | Value |
|---|---|
| Share Price (as of market close 2026-08-14) | $131.60 |
| Market Capitalization | $10 billion |
| Revenue (TTM) | $902 million |
| Net Income (TTM) | $115 million |
Company Snapshot
- FormFactor designs, manufactures, and globally distributes advanced test and measurement solutions for the semiconductor industry, with primary revenue derived from its Probe Cards and Systems divisions that serve semiconductor manufacturers and research institutions.
- The company generates revenue through the sale of probe cards used to verify integrated circuit functionality and complementary test systems, leveraging its specialized expertise in semiconductor testing to maintain its competitive position.
- FormFactor's primary customers include leading semiconductor manufacturers and research institutions that require advanced testing solutions to ensure product quality and performance across diverse integrated circuit applications.
FormFactor is a specialized provider of critical testing infrastructure for the global semiconductor industry, with a market capitalization of $10 billion and TTM revenue of $902 million.
The company has demonstrated significant growth momentum, with a 335% one-year stock price appreciation, reflecting strong demand for semiconductor testing solutions.
FormFactor's competitive advantage derives from its proprietary probe card technology and integrated systems approach, positioning it as an essential supplier to semiconductor manufacturers navigating increasingly complex device architectures and testing requirements.
What this transaction means for investors
This sale represented a small percentage of the CEO's holdings and shouldn't concern investors. Moreover, it was completed under a Rule 10b5-1 plan, which insiders often use to make transactions for personal reasons that don't reflect a view on the stock's valuation or business performance.
Importantly, FormFactor's TTM revenue is up 18% year over year. TTM operating margin also looks strong, coming in at 12.9%. If that holds through the end of the year would mark the highest margin in years.
The stock trades at 32 times forward earnings estimates, with analysts forecasting earnings to grow at an annualized rate of 65% over the next two years.
John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends FormFactor. The Motley Fool has a disclosure policy.