Form 4: ACHV President & CMO Settles PRSUs, Sells Shares for Tax
Insider Transaction Report
Achieve Life Sciences' President & CMO, Cindy Jacobs, settled 110,000 performance restricted stock units and sold 27,629 shares for tax obligations.
Summary
- Cindy Jacobs, President & CMO of Achieve Life Sciences, Inc. (ACHV), settled 110,000 performance restricted stock units (PRSUs) on September 4, 2025.
- These PRSUs were earned upon the achievement of specific performance criteria, as certified by the Compensation Committee of the Issuer's Board of Directors.
- Following the settlement, 27,629 shares of common stock were sold at a weighted average price of $2.77 per share (ranging from $2.68 to $2.88) to cover income tax withholding and remittance obligations.
- After these transactions, Ms. Jacobs directly owns 115,585 shares of common stock and retains 104,000 performance restricted stock units.
Sentiment
Score: 7
Explanation: The settlement of performance restricted stock units indicates the achievement of performance criteria, which is a positive for the executive and reflects successful milestone attainment for the company. The subsequent sale of shares for tax withholding is a standard, non-discretionary event.
Positives
- Achievement of performance criteria by the President & CMO, leading to the settlement of 110,000 performance restricted stock units, indicating successful attainment of company or individual milestones.
Negatives
- Sale of 27,629 shares of common stock to cover tax withholding obligations, which reduces the reporting person's direct common stock holdings.
Future Outlook
NA
Industry Context
NA
Stakeholder Impact
- Shareholders: Minor dilution from the issuance of shares for PRSU settlement, which is part of an approved compensation plan. The sale for tax purposes is a routine event and does not reflect a discretionary sale by the executive.
- Management: Cindy Jacobs' compensation structure is being realized, reflecting achievement of performance goals.
Key Dates
| Date | Description |
|---|---|
| 01/24/2024 | Date 84,000 PRSUs were previously reported. |
| 01/30/2025 | Date 26,000 PRSUs (part of a larger grant) were previously reported. |
| 09/04/2025 | Date of PRSU settlement and related share sale for tax obligations. |
| 09/08/2025 | Date the Form 4 filing was signed. |
| 01/22/2028 | Expiration date of the 84,000 PRSUs that were settled. |
| 01/28/2035 | Expiration date of the remaining 104,000 PRSUs (from the grant where 26,000 were settled). |
Keywords
Achieve Life Sciences, ACHV, Cindy Jacobs, Form 4, insider transaction, performance restricted stock units, PRSU, stock settlement, tax withholding, executive compensation
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