{
  "id": 18634215,
  "title": "Chime Financial co-founder Ryan King sells $1.98M in stock",
  "url": "https://urgent.news/2026/11/07/chime-financial-co-founder-ryan-king-sells-1-98m-in-stock",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-07T04:01:32.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/insider-trading-news/chime-financial-cofounder-ryan-king-sells-198m-in-stock-93CH-5009615"
  },
  "original_language": "en",
  "account": "Ryan A. King, co-founder and director of Chime Financial Inc. (NASDAQ: CHYM), sold $1,985,069 worth of Class A common stock on November 5, 2026, as per an SEC filing. The shares were sold under a pre-established Rule 10b5-1 trading plan, which Mr. King had put into effect on August 28, 2025. The 59,032 shares were dispersed across two separate sales, each executed at a weighted average price of $31.2608 per share and $32.1109 per share, respectively. The shares were held by the King Family Trust at the time of the sale. The insider's decision to sell comes amidst a notable increase in the stock price, with shares up 65% over the past six months and 12% in the last week alone, according to InvestingPro data. On the same day, Mr. King also purchased 63,382 Class A shares at a price of $0.00, which was achieved through the conversion of Class B shares. These newly acquired shares are also indirectly owned by the King Family Trust. As a result of these transactions, Mr. King now indirectly owns 37,812 shares of Class A common stock and directly owns 116,667 shares. He also holds significant derivative securities in the form of Class B common stock, which can be converted into Class A shares, held via various family trusts. Chime Financial recently reported robust third-quarter results, exceeding analysts' expectations with earnings of $0.11 per share and revenue growth of 32% to reach $718 million. This success has prompted Chime to increase its year-end guidance. Analysts have applauded the company's performance, with Wells Fargo raising its price target to $42.00 and B.Riley increasing it to $45.00. These developments mark Chime's third consecutive quarter of GAAP profitability.",
  "summary": null,
  "key_points": [
    "Ryan King sold $1.98M in Chime Financial stock on Nov 5, 2026",
    "Sale under Rule 10b5-1 plan, 59,032 shares split into two transactions",
    "King increased Class A ownership to 116,667 shares after conversion"
  ],
  "editors_take": "The co-founder’s automated liquidation of shares during a period of rapid price appreciation allows insiders to capture gains while maintaining significant ownership through the conversion of Class B stock.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}