Form 4: Allakos Inc. Chief Medical Officer Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Chin Hyok Lee, Chief Medical Officer of Allakos Inc., sold 45,320 shares of common stock on September 9, 2024, to satisfy tax withholding obligations related to vesting RSUs.
Summary
- On September 9, 2024, Chin Hyok Lee, the Chief Medical Officer of Allakos Inc., sold 45,320 shares of the company's common stock.
- The sale was executed at a price of $0.65 per share.
- This transaction was conducted to cover tax withholding obligations associated with the vesting of Restricted Stock Units (RSUs).
- Following the transaction, Lee directly owns 285,680 shares of Allakos Inc.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (sale of shares to cover taxes on vested RSUs) by an executive, which is neither particularly positive nor negative.
Industry Context
Sales of shares to cover tax obligations upon vesting of RSUs are a common practice among company executives and do not necessarily reflect a negative outlook on the company's future.
Stakeholder Impact
- The sale of shares by a company executive could have a minor impact on shareholder sentiment.
Key Dates
| Date | Description |
|---|---|
| 09/09/2024 | Date of the stock sale transaction. |
| 09/11/2024 | Date of signature for the SEC filing. |
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