Form 4: ADMA Biologics EVP, CFO Brian Lenz Reports Stock Disposal to Cover Tax Obligations
SEC Form 4 Filing
Brian Lenz, EVP and CFO of ADMA Biologics, disposed of 8,257 shares of common stock on February 25, 2024, to cover tax obligations related to vesting restricted stock units.
Summary
- On February 25, 2024, Brian Lenz, the EVP and CFO of ADMA Biologics, disposed of 8,257 shares of the company's common stock.
- The transaction was executed to cover tax obligations arising from the vesting of restricted stock units (RSUs).
- Following the transaction, Lenz directly owns 741,579 shares of ADMA Biologics common stock, which includes unvested RSUs and shares acquired through prior purchases and net settlements of RSUs after tax withholdings.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock transactions by an executive, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions, allowing investors to track ownership changes and potential alignment of interests.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| February 28, 2020 | Grant date of 10,000 unvested RSUs which vest quarterly on each anniversary of the date of grant, over four years. |
| February 25, 2021 | Grant date of 13,750 unvested RSUs which vest quarterly on each anniversary of the date of grant, over four years. |
| September 29, 2021 | Grant date of 123,749 unvested Time-Based RSUs which shall vest in eight (8) equal quarterly installments over a period of two years following December 31, 2022, becoming fully vested on December 31, 2024. |
| March 7, 2022 | Grant date of 103,125 unvested RSUs that will vest quarterly on the date of grant, over four years. |
| March 6, 2023 | Grant date of 135,175 RSUs that will vest quarterly on the date of grant, over four years. |
| February 25, 2024 | Date of transaction: Disposal of 8,257 shares of common stock to cover tax obligations. |
| February 27, 2024 | Date of signature for the Form 4 filing. |
| December 31, 2024 | Date that 123,749 unvested Time-Based RSUs granted on September 29, 2021, become fully vested. |
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