Form 4: Accelerate Diagnostics CEO Jack Phillips Reports Stock Transactions
SEC Form 4 Filing
CEO Jack Phillips of Accelerate Diagnostics reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- On February 1, 2025, Jack Phillips, CEO of Accelerate Diagnostics, had 1,000 restricted stock units (RSUs) vest, each representing a contingent right to receive one share of the company's common stock.
- Following the vesting, Phillips sold 485 shares of common stock on February 3, 2025, at a price of $1.35 per share.
- The sale was executed to cover tax withholding obligations associated with the vesting of the RSUs and was not a discretionary transaction.
- After these transactions, Phillips beneficially owns 163,434 shares of Accelerate Diagnostics stock.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock transactions by a company executive, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for reporting transactions by company insiders, providing transparency to investors.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders due to the increased supply of shares in the market, but the effect is likely minimal given the relatively small number of shares involved.
Key Dates
| Date | Description |
|---|---|
| 02/01/2020 | Reporting person was granted a total of 5,000 RSUs, which vest in equal annual amounts on each anniversary of the grant date over five years. |
| 02/01/2021 | First vesting date of the 5,000 RSUs granted on February 1, 2020. |
| 02/01/2025 | 1,000 RSUs vested. |
| 02/03/2025 | 485 shares sold at $1.35 per share. |
| 02/04/2025 | Date of Form 4 signature. |
Keywords
Accelerate Diagnostics, Jack Phillips, Form 4, Stock Sale, RSU Vesting, Beneficial Ownership, AXDX
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