Form 4: Allakos Inc. Chief Medical Officer Sells Shares to Cover Tax Obligations

Allakos Inc.'s Chief Medical Officer, Lee Chin Hyok, sold 10,634 shares of common stock to cover tax obligations related to the vesting of restricted stock units.

Summary

• Lee Chin Hyok, the Chief Medical Officer of Allakos Inc., sold 10,634 shares of common stock on December 4, 2024.
• The sale was executed at a price of $1.13 per share.
• This transaction was to satisfy tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• Following the transaction, Lee Chin Hyok directly owns 275,046 shares of Allakos Inc. common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no indication of 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 obligations when RSUs vest.

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders and are required by the SEC.
• The sale of shares to cover tax obligations is a common practice among executives receiving stock-based compensation.
• The number of shares sold is relatively small compared to the total shares owned by the executive.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Allakos Inc., Lee Chin Hyok, Chief Medical Officer, stock sale, Form 4, insider trading, tax obligations, restricted stock units, ALLK