Form 4: Adicet Bio CEO Chen Schor Reports Changes in Beneficial Ownership
SEC Form 4
Chen Schor, President & CEO of Adicet Bio, reports adjustments to beneficial ownership of company stock due to tax withholding and corrections of previous overstatements.
Summary
- On January 24, 2025, Chen Schor, the President & CEO of Adicet Bio, reported changes in beneficial ownership of Adicet Bio, Inc. [ACET] stock.
- 28,101 shares were withheld by the issuer to satisfy tax obligations related to vesting restricted stock units at a price of $0.9218 per share.
- Following the transaction, Schor directly owns 137,201 shares of common stock.
- Schor also indirectly owns 43,469 shares through The I. Schor IRRV Trust and 53,424 shares through The C. Schor IRRV Trust.
- Previous Form 4 filings on October 2, 2023, and January 24, 2024, inadvertently overstated the aggregate number of securities beneficially owned by 43,469 shares, which has been corrected in this filing.
Sentiment
Score: 7
Explanation: The document is neutral in tone, reporting factual changes in stock ownership. The correction of a previous error is slightly positive as it improves transparency.
Positives
- The correction of previously overstated share counts provides a more accurate representation of the CEO's holdings.
Industry Context
This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions and holdings in the company's stock.
Stakeholder Impact
- Shareholders benefit from the increased transparency regarding insider transactions and accurate reporting of share ownership.
Key Dates
| Date | Description |
|---|---|
| 10/02/2023 | Date of a previous Form 4 filing that inadvertently overstated the number of securities beneficially owned. |
| 01/24/2024 | Date of a previous Form 4 filing that inadvertently overstated the number of securities beneficially owned. |
| 01/24/2025 | Date of the transaction involving tax withholding and the correction of previous overstatements. |
| 01/28/2025 | Date of the signature on the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.