Form 4: ADMA Biologics CEO Adam Grossman Reports Changes in Beneficial Ownership Following Divorce Settlement
SEC Form 4
Adam Grossman, CEO of ADMA Biologics, reports changes in beneficial ownership of company stock due to a court-approved divorce settlement.
Summary
- Adam Grossman, the President, CEO, and Interim CFO of ADMA Biologics, reported changes in his beneficial ownership of ADMA Biologics stock on June 14, 2024.
- These changes are primarily due to a court-approved divorce settlement.
- Mr. Grossman transferred 460,000 shares of common stock as part of the divorce settlement at a weighted average price of $3.21.
- He also transferred 10,000 shares to a third party in connection with the divorce settlement at $0.
- Additionally, he sold 100,000 shares at $10.7198 per share in connection with the divorce settlement.
- Following these transactions, Mr. Grossman directly owns 2,081,475 shares of common stock.
- This includes unvested RSUs that will be settled into common stock upon vesting.
- Mr. Grossman also indirectly owns 1,143,426 shares through Areth, LLC and 580,957 shares through Hariden, LLC.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing changes in stock ownership. The transactions are related to a divorce settlement, which is a neutral event from a financial perspective.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Changes in ownership can be due to a variety of factors, including personal financial planning, diversification, or, as in this case, a divorce settlement.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership structure, but the impact is likely to be minimal as the transactions are related to a personal matter of the CEO.
Key Dates
| Date | Description |
|---|---|
| 02/25/2021 | Grant date of 45,785 unvested RSUs. |
| 09/29/2021 | Grant date of 170,157 unvested Time-Based RSUs. |
| 03/07/2022 | Grant date of 150,000 unvested RSUs. |
| 03/06/2023 | Grant date of 430,272 unvested RSUs. |
| 02/26/2024 | Grant date of 557,728 RSUs. |
| 06/14/2024 | Date of the reported transactions (stock transfer and sale). |
| 12/31/2024 | Time-Based RSUs become fully vested. |
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