Form 4: Akebia Therapeutics CEO John P. Butler Sells Shares to Cover Tax Obligations
SEC Form 4
Akebia Therapeutics CEO John P. Butler sold 46,570 shares of common stock on February 29, 2024, to cover tax withholding obligations related to the vesting of restricted stock units.
Summary
- On February 29, 2024, John P. Butler, CEO and President of Akebia Therapeutics, Inc., sold 46,570 shares of common stock at a price of $1.58 per share.
- The sale was executed automatically by the issuer to cover tax withholding obligations associated with the vesting and settlement of one-third of the reporting person's restricted stock units granted on February 28, 2022.
- Following the transaction, Butler directly owns 2,044,580 shares of Akebia Therapeutics common stock.
- Butler also indirectly owns shares through John Butler GRAT November 2019 (100,000 shares), John Butler 2019 GRAT (59,928 shares), Dorothy Butler GRAT November 2019 (100,000 shares), and Dorothy Butler 2019 GRAT (59,928 shares).
Sentiment
Score: 5
Explanation: The document describes a routine stock sale to cover tax obligations, which is neither particularly positive nor negative.
Industry Context
This is a routine transaction related to executive compensation and tax obligations. It is common for executives to sell shares to cover taxes when restricted stock units vest.
Stakeholder Impact
- The sale of shares by the CEO could have a minor impact on shareholder sentiment, but is unlikely to be significant given the stated reason for the sale.
Key Dates
| Date | Description |
|---|---|
| 02/28/2022 | Date of grant for restricted stock units, one-third of which vested and settled, triggering the tax obligation. |
| 02/29/2024 | Date of the stock sale transaction. |
| 03/01/2024 | Date of signature for the Form 4 filing. |
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