Form 4: Allakos CEO Sells Shares to Cover Tax Obligations

Allakos CEO Robert Alexander sold 32,466 shares of common stock to cover tax obligations related to the vesting of restricted stock units.

Summary

• Allakos CEO Robert Alexander sold 32,466 shares of common stock on December 5, 2024, at a price of $1.1 per share.
• The sale was executed to satisfy tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• Following the transaction, Mr. Alexander directly owns 769,474 shares of Allakos common stock.
• He also indirectly owns 320,300 shares through the Alexander 2018 Irrevocable Descendants' Trust.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes and does not indicate any positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax liabilities when RSUs vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across the industry.
• The sale of 32,466 shares is not unusual for a CEO of a company of Allakos' size.
• Similar transactions are regularly reported by executives at comparable biotech companies.

Stakeholder Impact

• The sale of shares by the CEO may have a minor impact on the stock price, but it is not expected to be significant given the routine nature of the transaction.

Key Dates

Keywords

Allakos, Robert Alexander, stock sale, insider trading, Form 4, tax obligations, restricted stock units, RSUs