Form 4: Adaptimmune Therapeutics CEO Sells Shares to Cover Tax Obligations

Adaptimmune Therapeutics CEO, Adrian Rawcliffe, sold 30,601 American Depositary Shares (ADS) to cover tax obligations related to vested share options.

Summary

• Adrian Rawcliffe, CEO of Adaptimmune Therapeutics, sold 30,601 American Depositary Shares (ADS) on January 17, 2025.
• The sale was executed at a weighted average price of $0.5808 per ADS, with individual transactions ranging from $0.5797 to $0.589.
• This sale was part of a 'Sell to Cover' transaction to satisfy tax withholding obligations and associated sale costs related to vested RSU-style share options.
• The options were granted on January 17, 2023, and the sale represents approximately 25% of the vested options.
• After the sale, Rawcliffe retains 44,327 ADSs from this transaction, and also holds 350,900 ADSs and options covering 34,439,286 ordinary shares.

Sentiment

Score: 5

Explanation: The document describes a routine transaction related to executive compensation. It is neither positive nor negative for the company's prospects.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when stock options vest.

Comparison to Industry Standards

• Sell-to-cover transactions are a standard practice in the industry for executives exercising stock options.
• The number of shares sold and the price range are within the expected parameters for such transactions.
• Similar transactions are common among executives at comparable biotech companies.

Stakeholder Impact

• The sale of shares by the CEO may have a minor impact on the share price, but it is not expected to be significant.
• The transaction does not have a direct impact on employees, customers, or suppliers.

Key Dates

Keywords

Adaptimmune Therapeutics, Adrian Rawcliffe, ADS, share sale, Form 4, executive compensation, stock options, tax obligations, sell to cover