S&P 500 Technology Sector SEC Filings — August 07, 2026

USA S&P 500 Technology

By Gunpowder Editorial ·

15 high priority 4 medium priority 19 total filings analysed

Executive Summary

The 19 filings from the S&P 500 Technology sector reveal a heavy insider selling pattern across key names (Arista, Lam Research, Datadog), with most sales executed under Rule 10b5-1 plans, reducing alarm but signaling potential price ceiling concerns.

KLA Corp's executive team collectively received large equity awards but also had significant shares withheld for taxes, a routine but large cash-out event. State Street Corporation filed passive 5%+ stakes in Adobe, Cisco, and Qualcomm, indicating broad institutional accumulation in mega-cap tech. No revenue, margin, or guidance data exists in these insider and beneficial ownership filings, so sector trends rely entirely on insider behavior. The dominant insider selling at Arista Networks ($102.7M total) from both CEO and 10% owner is the standout signal, especially given the company's recent performance and high valuation. The Lam Research CEO's $9M sale at $300, coupled with Lam's 10-K risk filing (medium risk/8 materiality), flags possible headwinds. Overall, the batch suggests a cautious tone among C-suite executives at high-growth names, with no bullish insider buying detected.

Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →

Filing types in this digest: Form 4 · 10-K · Schedule 13G

Tracking the trend? Catch up on the prior S&P 500 Technology Sector SEC Filings digest from July 31, 2026.

Investment Signals (10)

  • CEO and Chairperson Ullal Jayshree sold $90.5M worth of stock across multiple filings; combined with 10% owner Bechtolsheim's $12.2M sale, total insider selling = $102.7M. All under 10b5-1 but magnitude is extreme

  • Datadog (BEARISH)

    CEO Pomel Olivier sold $8.78M at $286.75, while exercising options—indicating profit-taking at elevated levels. No insider buying detected

  • CEO Archer Timothy sold $9M at $300, converting options at $30.03 for a ~10x gain. Simultaneously, Lam's 10-K risk level is medium with 8/10 materiality, suggesting management may see fair value or downside

  • CEO Wallace had $16.9M withheld for taxes; 5 top executives aggregated $23M in tax-withholding sales. While routine, it creates persistent sell pressure at $192.80 [NEUTRAL/BEARISH]

  • State Street Corp disclosed a 5.2% passive stake (20.5M shares) as of June 30, 2026—institutional accumulation in a stable software giant

  • Qualcomm (BULLISH)

    State Street holds a 5.0% passive stake (52.8M shares), aligning with the AI/connectivity theme; institutional vote of confidence in semis

  • NVIDIA (NEUTRAL)

    Director Coxe gifted 500,000 shares—no sale, but large gift suggests estate planning rather than bearish view. No insider sales detected

  • AppLovin (NEUTRAL)

    Director Vivas gifted 213,675 shares—no selling but large gift could signal diversification. Neutral overall

  • Palantir (BEARISH)

    Director Stat sold $500K at $165—small relative to market cap but no insider buying to offset. High valuation environment makes sales notable

  • State Street holds a 5.0% passive stake (197M shares)—institutional support for a mature tech name transitioning to subscription models

Risk Flags (7)

  • $90.5M sold by CEO in 2026, plus 10% owner sold $12.2M. Despite 10b5-1 plans, the magnitude ($102.7M) suggests management may view valuation as stretched

  • CEO sold $9M at $300; 10-K risk level 'medium' with materiality 8/10. Potential headwinds in wafer fab equipment demand or China export restrictions

  • CEO sold $8.78M after option exercise; if growth decelerates, high multiple stock could compress. No insider buying for confidence signal

  • 5 executives had shares withheld totaling ~$23M. While routine, any stock price weakness could be exacerbated by these scheduled sales

  • Palantir / Director Sale [MODERATE RISK]

    Director sold at $165—current P/S may be elevated. If government contract growth slows, downside risk exists

  • 213,675 shares gifted—could foretell future selling. High growth but unprofitable in some segments; marketing software sector cyclical

  • Lam Research 10-K / Supply Chain Risks [MODERATE RISK]

    Medium risk level suggests dependencies on foundry/utilization rates and geopolitical tensions; no forward guidance improved

Opportunities (8)

  • 5.2% passive stake shows institutional conviction in Adobe's AI monetization via Firefly and GenStudio. No insider selling reported; stable growth opportunity

  • AI-on-device and IoT connectivity themes gaining institutional backing. Qualcomm's diversified revenue base (auto, compute) adds optionality

  • 197M shares held—Cisco's transition to software/subscriptions could be accelerating. Low valuation relative to other tech names; dividend yield attractive

  • If stock drops below $192.80, tax-withholding sales may pause; the consistent equity awards suggest board confidence in growth

  • Director Coxe's 500K share gift (no sell-off) maintains his 24.7M share holding. No insider selling pressure; AI demand narrative intact

  • Arista / Post-Selloff Entry (CONTRARIAN OPPORTUNITY)

    If stock corrects on insider selling headlines, the 10b5-1 plan signals the sales were pre-planned, not reactionary. Long-term as data center networking leader intact

  • CEO exercised at deep discount—implies long-term confidence despite sale. Any pullback from $300 could be entry point if 10-K risks are temporary

  • After $8.78M sale, CEO still holds substantial stake. If growth sustains (cloud monitoring), the sale is likely diversification, not lack of conviction

Sector Themes (5)

  • Insider Selling Dominates, No Buying

    Across 19 filings, zero insider purchases detected. 13 filings involve insider sales (direct or tax-withholding) totaling ~$130M. This uniform lack of buying suggests executives at these tech names view current valuations as fair to high, with no urgency to accumulate

  • Institutional Accumulation in Mega-Cap Tech

    State Street Corp filed 5%+ passive stakes in Adobe, Cisco, and Qualcomm on same day (Aug 7, 2026). This points to global passive asset allocation increasing into large-cap tech, providing support for these names despite insider selling

  • 10b5-1 Plan Prevalence

    All major insider sales (Arista, Datadog, Lam Research, Palantir) were executed under Rule 10b5-1 plans. While this reduces concern of reactive selling, the magnitude and concentration (Arista = $102.7M) still signals planned de-risking by top management

  • Tax-Withholding Sales as Routine Cash Flow

    KLA Corp's 6 filings all involve shares withheld for taxes after equity awards. No open-market selling—shows that even routine equity grants create persistent sell pressure, but it's non-discretionary and should be distinguished from voluntary sales

  • Semiconductor Equipment Insider Divergence

    Lam Research CEO sold $9M while KLA executives had $23M in tax-withholding sales. No insider buying in either name. This may reflect caution on wafer fab equipment cycle peaks despite AI capex narrative

Watch List (3)

  • Monitor if insider selling continues beyond 10b5-1 plan; earnings call (scheduled TBD) to review demand from cloud providers vs hyperscalers

  • 10-K flagged medium risk; watch for China export curbs or foundry utilization updates. CEO sold $9M—next earnings likely to provide guidance on WFE spending

  • 👁

    CEO sold $8.78M; watch Q3 growth rates and if other insiders sell. Cloud monitoring competition from

Filing Analyses (19)
KLA CORP 4 neutral materiality 6/10

07-08-2026

SVP & Chief Accounting Officer Kirloskar Virendra A had withheld for taxes 2,364.967 Common Stock at $192.80 (~$456K). Kirloskar Virendra A holds 16,696.6309 shares after the transaction.

  • · SVP & Chief Accounting Officer Kirloskar Virendra A was awarded 1,549.15 Common Stock
  • · SVP & Chief Accounting Officer Kirloskar Virendra A was awarded 9,540 Common Stock
  • · SVP & Chief Accounting Officer Kirloskar Virendra A had withheld for taxes 2,364.967 Common Stock at $192.80 (~$456K)
KLA CORP 4 neutral materiality 6/10

07-08-2026

President, Semi. Prod. & Cust. Khan Ahmad A. had withheld for taxes 30,975.453 Common Stock at $192.80 (~$5.97M). 5 transactions reported in total. Khan Ahmad A. holds 275,756.6039 shares after the transaction.

  • · President, Semi. Prod. & Cust. Khan Ahmad A. was awarded 24,410.853 Common Stock
  • · President, Semi. Prod. & Cust. Khan Ahmad A. was awarded 87,420 Common Stock
  • · President, Semi. Prod. & Cust. Khan Ahmad A. had withheld for taxes 21,671.418 Common Stock at $192.80 (~$4.18M)
  • · President, Semi. Prod. & Cust. Khan Ahmad A. was awarded 62,475.7 Common Stock
  • · President, Semi. Prod. & Cust. Khan Ahmad A. had withheld for taxes 30,975.453 Common Stock at $192.80 (~$5.97M)
KLA CORP 4 neutral materiality 7/10

07-08-2026

EVP & Chief Financial Officer Higgins Bren D. had withheld for taxes 30,975.453 Common Stock at $192.80 (~$5.97M). 5 transactions reported in total. Higgins Bren D. holds 343,847.0479 shares after the transaction.

  • · EVP & Chief Financial Officer Higgins Bren D. was awarded 24,410.853 Common Stock
  • · EVP & Chief Financial Officer Higgins Bren D. was awarded 87,420 Common Stock
  • · EVP & Chief Financial Officer Higgins Bren D. had withheld for taxes 21,671.418 Common Stock at $192.80 (~$4.18M)
  • · EVP & Chief Financial Officer Higgins Bren D. was awarded 62,475.7 Common Stock
  • · EVP & Chief Financial Officer Higgins Bren D. had withheld for taxes 30,975.453 Common Stock at $192.80 (~$5.97M)
KLA CORP 4 neutral materiality 4/10

07-08-2026

EVP, KLA Global Services Lorig Brian had withheld for taxes 12,388.704 Common Stock at $192.80 (~$2.39M). 5 transactions reported in total. Lorig Brian holds 140,142.7319 shares after the transaction.

  • · EVP, KLA Global Services Lorig Brian was awarded 15,960.942 Common Stock
  • · EVP, KLA Global Services Lorig Brian was awarded 39,735 Common Stock
  • · EVP, KLA Global Services Lorig Brian had withheld for taxes 9,854.025 Common Stock at $192.80 (~$1.9M)
  • · EVP, KLA Global Services Lorig Brian was awarded 24,987.3 Common Stock
  • · EVP, KLA Global Services Lorig Brian had withheld for taxes 12,388.704 Common Stock at $192.80 (~$2.39M)
KLA CORP 4 neutral materiality 6/10

07-08-2026

EVP, CLO and Secretary Wilkinson Mary Beth had withheld for taxes 10,519.654 Common Stock at $192.80 (~$2.03M). 5 transactions reported in total. Wilkinson Mary Beth holds 61,732.303 shares after the transaction.

  • · EVP, CLO and Secretary Wilkinson Mary Beth was awarded 5,069.946 Common Stock
  • · EVP, CLO and Secretary Wilkinson Mary Beth was awarded 25,440 Common Stock
  • · EVP, CLO and Secretary Wilkinson Mary Beth had withheld for taxes 5,355.121 Common Stock at $192.80 (~$1.03M)
  • · EVP, CLO and Secretary Wilkinson Mary Beth was awarded 24,987.3 Common Stock
  • · EVP, CLO and Secretary Wilkinson Mary Beth had withheld for taxes 10,519.654 Common Stock at $192.80 (~$2.03M)
KLA CORP 4 neutral materiality 7/10

07-08-2026

President and CEO WALLACE RICHARD P had withheld for taxes 87,481.432 Common Stock at $192.80 (~$16.9M). 5 transactions reported in total. WALLACE RICHARD P holds 879,273.4429 shares after the transaction.

  • · President and CEO WALLACE RICHARD P was awarded 352,875 Common Stock
  • · President and CEO WALLACE RICHARD P had withheld for taxes 87,481.432 Common Stock at $192.80 (~$16.9M)
  • · President and CEO WALLACE RICHARD P was awarded 93,721 Common Stock
  • · President and CEO WALLACE RICHARD P had withheld for taxes 46,466.872 Common Stock at $192.80 (~$8.96M)
  • · President and CEO WALLACE RICHARD P was awarded 40,841.235 Common Stock
LAM RESEARCH CORP 10-K materiality 8/10

07-08-2026

Datadog, Inc. 4 negative materiality 7/10

07-08-2026

Chief Executive Officer Pomel Olivier sold 30,602 Class A Common Stock at $286.75 (~$8.78M). 15 transactions reported in total. Pomel Olivier holds 612,747 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · Chief Executive Officer Pomel Olivier exercised/converted 127,141 Class A Common Stock
  • · Chief Executive Officer Pomel Olivier sold 21,390 Class A Common Stock at $283.19 (~$6.06M)
  • · Chief Executive Officer Pomel Olivier sold 7,431 Class A Common Stock at $284.70 (~$2.12M)
  • · Chief Executive Officer Pomel Olivier sold 13,474 Class A Common Stock at $285.75 (~$3.85M)
  • · Chief Executive Officer Pomel Olivier sold 30,602 Class A Common Stock at $286.75 (~$8.78M)
  • · Chief Executive Officer Pomel Olivier sold 24,798 Class A Common Stock at $287.72 (~$7.13M)
  • · Chief Executive Officer Pomel Olivier sold 20,346 Class A Common Stock at $288.68 (~$5.87M)
  • · Chief Executive Officer Pomel Olivier sold 3,500 Class A Common Stock at $289.62 (~$1.01M)
NVIDIA CORP 4 neutral materiality 2/10

07-08-2026

Director COXE TENCH gifted 500,000 Common. COXE TENCH holds 24,671,360 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · Director COXE TENCH gifted 500,000 Common
AppLovin Corp 4 neutral materiality 5/10

07-08-2026

Director Vivas Eduardo gifted 213,675 Class A Common Stock. Vivas Eduardo holds 213,675 shares after the transaction.

  • · Director Vivas Eduardo gifted 213,675 Class A Common Stock
  • · Director Vivas Eduardo gifted 213,675 Class A Common Stock
Arista Networks, Inc. 4 negative materiality 6/10

07-08-2026

10% owner BECHTOLSHEIM ANDREAS sold 58,978 Common Stock at $207.69 (~$12.2M). 20 transactions reported in total. BECHTOLSHEIM ANDREAS holds 181,443,048 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · 10% owner BECHTOLSHEIM ANDREAS sold 4,516 Common Stock at $193.76 (~$875K)
  • · 10% owner BECHTOLSHEIM ANDREAS sold 3,876 Common Stock at $194.92 (~$755K)
  • · 10% owner BECHTOLSHEIM ANDREAS sold 3,524 Common Stock at $195.62 (~$689K)
  • · 10% owner BECHTOLSHEIM ANDREAS sold 1,151 Common Stock at $191.62 (~$221K)
  • · 10% owner BECHTOLSHEIM ANDREAS sold 3,469 Common Stock at $192.75 (~$669K)
  • · 10% owner BECHTOLSHEIM ANDREAS sold 18,320 Common Stock at $197.85 (~$3.62M)
  • · 10% owner BECHTOLSHEIM ANDREAS sold 13,297 Common Stock at $198.84 (~$2.64M)
  • · 10% owner BECHTOLSHEIM ANDREAS sold 11,487 Common Stock at $199.77 (~$2.29M)
Arista Networks, Inc. 4 negative materiality 7/10

07-08-2026

CEO and Chairperson Ullal Jayshree sold 79,845 Common Stock at $201.29 (~$16.1M). 30 transactions reported in total. Ullal Jayshree holds 4,968,490 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · CEO and Chairperson Ullal Jayshree sold 33,027 Common Stock at $197.12 (~$6.51M)
  • · CEO and Chairperson Ullal Jayshree sold 5,897 Common Stock at $198.54 (~$1.17M)
  • · CEO and Chairperson Ullal Jayshree sold 11,753 Common Stock at $199.51 (~$2.34M)
  • · CEO and Chairperson Ullal Jayshree sold 3,701 Common Stock at $200.43 (~$742K)
  • · CEO and Chairperson Ullal Jayshree sold 79,845 Common Stock at $201.29 (~$16.1M)
  • · CEO and Chairperson Ullal Jayshree sold 524 Common Stock at $202.39 (~$106K)
  • · CEO and Chairperson Ullal Jayshree sold 7,331 Common Stock at $203.57 (~$1.49M)
  • · CEO and Chairperson Ullal Jayshree sold 6,217 Common Stock at $204.73 (~$1.27M)
Arista Networks, Inc. 4 negative materiality 4/10

07-08-2026

CEO and Chairperson Ullal Jayshree sold 248 Common Stock at $201.29 (~$49.9K). 30 transactions reported in total. Ullal Jayshree holds 29,484 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · CEO and Chairperson Ullal Jayshree sold 102 Common Stock at $197.12 (~$20.1K)
  • · CEO and Chairperson Ullal Jayshree sold 18 Common Stock at $198.54 (~$3.57K)
  • · CEO and Chairperson Ullal Jayshree sold 37 Common Stock at $199.51 (~$7.38K)
  • · CEO and Chairperson Ullal Jayshree sold 12 Common Stock at $200.43 (~$2.41K)
  • · CEO and Chairperson Ullal Jayshree sold 248 Common Stock at $201.29 (~$49.9K)
  • · CEO and Chairperson Ullal Jayshree sold 2 Common Stock at $202.39 (~$405)
  • · CEO and Chairperson Ullal Jayshree sold 23 Common Stock at $203.57 (~$4.68K)
  • · CEO and Chairperson Ullal Jayshree sold 19 Common Stock at $204.73 (~$3.89K)
Arista Networks, Inc. 4 negative materiality 7/10

07-08-2026

CEO and Chairperson Ullal Jayshree sold 369,569 Common Stock at $201.29 (~$74.4M). 15 transactions reported in total. Ullal Jayshree holds 16,387,981 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · CEO and Chairperson Ullal Jayshree sold 152,860 Common Stock at $197.12 (~$30.1M)
  • · CEO and Chairperson Ullal Jayshree sold 27,292 Common Stock at $198.54 (~$5.42M)
  • · CEO and Chairperson Ullal Jayshree sold 54,399 Common Stock at $199.51 (~$10.9M)
  • · CEO and Chairperson Ullal Jayshree sold 17,132 Common Stock at $200.43 (~$3.43M)
  • · CEO and Chairperson Ullal Jayshree sold 369,569 Common Stock at $201.29 (~$74.4M)
  • · CEO and Chairperson Ullal Jayshree sold 2,428 Common Stock at $202.39 (~$491K)
  • · CEO and Chairperson Ullal Jayshree sold 33,931 Common Stock at $203.57 (~$6.91M)
  • · CEO and Chairperson Ullal Jayshree sold 28,776 Common Stock at $204.73 (~$5.89M)
Palantir Technologies Inc. 4 negative materiality 5/10

07-08-2026

Director Stat Lauren Elaina Friedman sold 3,032 Class A Common Stock at $165.00 (~$500K). Stat Lauren Elaina Friedman holds 54,107 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · Director Stat Lauren Elaina Friedman sold 3,032 Class A Common Stock at $165.00 (~$500K)
ADOBE INC. SC 13G neutral materiality 5/10

07-08-2026

State Street Corporation filed a Schedule 13G with the SEC on August 7, 2026, disclosing beneficial ownership of 20,538,520 shares of Adobe Inc. common stock, representing a 5.2% stake. The filing indicates the shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Adobe.

  • · State Street Corporation holds 12,808,817 shares with sole voting power and 20,515,508 shares with shared voting power.
  • · The filing is made under Rule 13d-1(b), indicating the shares are held in the ordinary course of business and not for control purposes.
  • · The filing date is August 7, 2026, with the period ending June 30, 2026.
CISCO SYSTEMS, INC. SC 13G neutral materiality 3/10

07-08-2026

State Street Corporation filed a Schedule 13G with the SEC on August 7, 2026, disclosing beneficial ownership of 197,373,659 shares of Cisco Systems, Inc. common stock as of June 30, 2026, representing approximately 5.0% of the outstanding shares. The filing indicates the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Cisco.

  • · State Street Corporation disclaims beneficial ownership of 220,607 shares held by subsidiaries.
  • · The filing is made pursuant to Rule 13d-1(b) under the Securities Exchange Act of 1934.
  • · State Street Corporation is a bank holding company headquartered in Boston, Massachusetts.
QUALCOMM INC/DE SC 13G neutral materiality 5/10

07-08-2026

State Street Corporation filed a Schedule 13G with the SEC on August 7, 2026, disclosing beneficial ownership of 52,822,532 shares of Qualcomm Inc common stock as of June 30, 2026. This represents approximately 5.0% of Qualcomm's outstanding shares, making State Street a significant but passive institutional shareholder. The filing indicates the shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Qualcomm.

  • · State Street Corporation's beneficial ownership includes shares held by multiple subsidiaries acting as investment advisers.
  • · State Street disclaims beneficial ownership of shares held by its subsidiaries except to the extent of its pecuniary interest.
  • · The filing is made pursuant to Rule 13d-1(b), indicating passive investment intent.
  • · State Street Corporation is organized under the laws of Massachusetts.
LAM RESEARCH CORP 4 negative materiality 6/10

07-08-2026

President and CEO ARCHER TIMOTHY sold 30,000 Common Stock at $300.00 (~$9M). ARCHER TIMOTHY holds 1,075,966 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · President and CEO ARCHER TIMOTHY exercised/converted 30,000 Common Stock at $30.03 (~$901K)
  • · President and CEO ARCHER TIMOTHY sold 30,000 Common Stock at $300.00 (~$9M)
  • · President and CEO ARCHER TIMOTHY exercised/converted 30,000 Employee Stock Option (Right to Buy)

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