Form 4: ADMA Biologics CEO Adam Grossman Reports Tax Withholding on RSU Vesting
SEC Form 4 Filing
Adam Grossman, President, CEO, and Interim CFO of ADMA Biologics, reports the withholding of shares to cover tax obligations upon the vesting of restricted stock units.
Summary
- On June 30, 2024, Adam S. Grossman, President, CEO, and Interim CFO of ADMA Biologics, had 21,752 shares of common stock withheld by the issuer to satisfy mandatory tax withholding requirements upon the vesting of restricted stock units (RSUs).
- This was not an open market sale of securities.
- Following the transaction, Grossman directly owns 2,059,726 shares of ADMA Biologics common stock.
- Grossman also indirectly owns 1,143,426 shares through Areth, LLC and 580,957 shares through Hariden, LLC.
Sentiment
Score: 5
Explanation: Neutral sentiment as it reports a routine transaction related to executive compensation and tax obligations.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a standard tax withholding event.
Key Dates
| Date | Description |
|---|---|
| 02/25/2021 | Date of grant for 45,788 unvested RSUs. |
| 09/29/2021 | Date of grant for 113,438 unvested time-based RSUs. |
| 03/07/2022 | Date of grant for 150,000 unvested RSUs. |
| 03/06/2023 | Date of grant for 430,272 unvested RSUs. |
| 02/26/2024 | Date of grant for 557,728 RSUs. |
| 06/30/2024 | Date of transaction: Shares withheld for tax obligations on RSU vesting. |
| 07/02/2024 | Date of Form 4 filing. |
| 12/31/2024 | Date when 113,438 unvested time-based RSUs granted on September 29, 2021, become fully vested. |
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