CRDO CTO Jeong Chi-Peong Sells Over 85,000 Shares in Three Transactions from June to July

On June 16, June 23, and July 7–8, Cheng Chi Fung, Chief Technology Officer (CTO) of Credo Technology Group Holding Ltd (ticker: CRDO), sold a total of 85,890 ordinary shares on the open market in three separate transactions.[1][2][3] The sale prices ranged approximately from $236.58 to $281.05 per share, indicating that, based solely on the disclosed prices, tens of millions of dollars were monetized in a short period. This represents a significant conversion of executive holdings into freely tradable shares, with notable implications for the company's investor ownership structure and supply dynamics.[1][2][3]

On June 16, under a pre-arranged Rule 10b5-1 plan executed through the Cheng Huang Family Trust, Cheng Chi Fung sold 24,000 ordinary shares in multiple tranches.[1] The transactions on that day were executed at prices ranging from $239.6007 to $257.61 per share, with blocks of 100 to 4,377 shares across 17 separate trades.[1] After the June 16 transactions, the trust’s indirect holdings stood at 5,964,870 shares, and the disclosure stated that any portion of these shares exceeding the beneficial ownership thresholds for Cheng Chi Fung and his spouse is disclaimed as not reflecting actual beneficial ownership.[1]

On June 23, a further 29,900 ordinary shares were disposed of through an automatic Rule 10b5-1 plan via the same trust.[2] The shares were sold at prices between $266.404 and $281.05 per share, executed in small blocks ranging from 100 to 4,800 shares.[2] As a result, the Cheng Huang Family Trust’s indirect holdings decreased from approximately 5,964,370 shares to 5,937,470 shares, and Cheng Chi Fung separately disclosed direct ownership of 146,608 shares.[2]

On July 7, under the Rule 10b5-1 plan, 28,100 ordinary shares were sold through the trust in multiple tranches.[3] The trust’s sales that day were at prices ranging from $236.5831 to $253.55 per share, with blocks of 100 to 3,275 shares each.[3] Then, on July 8, Cheng Chi Fung personally sold 3,790 ordinary shares at $258.71 per share, realizing approximately $980,000 in cash.[3]

As of immediately after July 8, Cheng Chi Fung was reported to hold 588,237 ordinary shares indirectly through the Cheng Huang Family Trust and 140,358 shares directly in his own name.[3] Based on a pro forma price of $258.71 per share, the directly held shares are valued at approximately $36.33 million, and the trust-held shares at about $152.05 million.[3]

The scale and price ranges of the three transactions are shown in the table below.

Date	Seller	Shares Sold	Price Range (USD)	Remarks
2026-06-16	Cheng Huang Family Trust	24,000 shares	239.6007–257.61	Rule 10b5-1 Plan Sale[1]
2026-06-23	Cheng Huang Family Trust	29,900 shares	266.404–281.05	Rule 10b5-1 Automatic Sale[2]
2026-07-07	Cheng Huang Family Trust	28,100 shares	236.5831–253.55	Rule 10b5-1 Plan Sale[3]
2026-07-08	Cheng Chi Fung (Direct)	3,790 shares	258.71 (single price)	Direct Sale[3]

All of these transactions were disclosed as pre-arranged sales under a Rule 10b5-1 trading plan, emphasizing that they were executed according to a pre-set schedule rather than through opportunistic trades based on inside information.[1][2][3] At the same time, by supplying a significant volume of shares to the market in a short period, the CTO’s actions could influence investor perceptions of future management ownership trends and potential additional sales, affecting CRDO’s share supply-demand dynamics and governance stability.[1][2][3]