SAN FRANCISCO—Sharon Dziesietnik, the Chief Operations Officer of Brilliant Earth Group, Inc. (NASDAQ:BRLT), recently sold a portion of her holdings in the company. According to a filing with the Securities and Exchange Commission, Dziesietnik sold 5,324 shares of Class A common stock at an average price of $1.96 per share, totaling approximately $10,435. The transaction comes as the stock trades at $2.04, having declined over 42% in the past year.
The sale was part of a pre-arranged trading plan under Rule 10b5-1, which Dziesietnik adopted on September 12, 2024. This transaction was executed to cover estimated tax obligations related to the vesting and settlement of restricted stock units. Following the sale, Dziesietnik retains ownership of 392,121 shares in the company.
Brilliant Earth Group, known for its jewelry and silverware offerings, continues to see active insider transactions, reflecting ongoing financial maneuvers by its executives.
In other recent news, Brilliant Earth Group reported mixed Q3 results, with net sales decreasing by 13% year-over-year to $99.9 million. Despite this, the company marked its 13th consecutive quarter of profitability, with an adjusted EBITDA of $3.6 million. This represents a 3.6% margin. The company's CEO, Beth Gerstein, cited an increase in gross margin and strong growth in wedding bands and fine jewelry, despite a decrease in engagement ring sales. CFO Jeffrey Kuo expressed optimism for the upcoming holiday season and reiterated the company's commitment to sustainable growth. Brilliant Earth has also raised its adjusted EBITDA guidance for the year to between $14 million and $16 million. This comes alongside the opening of new showrooms in Boston and New York City, bringing the total count to 40.
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