Form 4: Allogene CTO Sells Shares for Tax Obligations

Allogene Therapeutics' SVP, Chief Technical Officer, Benjamin Beneski, sold 7,132 shares of common stock to cover tax withholding obligations related to restricted stock unit vesting.

Summary

• Benjamin Machinas Beneski, SVP, Chief Technical Officer of Allogene Therapeutics, Inc. (ALLO), reported a sale of common stock.
• The transaction involved the disposition of 7,132 shares of common stock on March 2, 2026.
• The shares were sold at a weighted average price of $2.60 per share, with prices ranging from $2.60 to $2.67.
• This sale was not a discretionary trade but was mandated by the Issuer's equity incentive plan to cover tax withholding obligations upon the vesting of restricted stock units.
• Following this transaction, Benjamin Beneski beneficially owns 203,040 shares of Allogene Therapeutics common stock directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this transaction as neutral. It is a non-discretionary 'sell to cover' sale for tax purposes, which does not reflect a change in management's confidence or a strategic move.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

StockSavvy.ai notes that 'sell to cover' transactions, such as the one reported by Allogene Therapeutics' CTO, are a common and routine mechanism for insiders to satisfy tax obligations arising from the vesting of equity awards. These transactions are typically non-discretionary and are generally not interpreted as an indicator of management's sentiment regarding the company's future prospects, distinguishing them from open market discretionary sales.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction for tax purposes and not indicative of a change in insider sentiment.

Key Dates

Recommendation

The transaction reported is a 'sell to cover' to satisfy tax withholding obligations related to restricted stock unit vesting. This is a non-discretionary event and does not signal a change in the insider's view of the company's prospects. Therefore, it provides no new information to warrant a change from a 'hold' recommendation based solely on this filing.

Keywords

Allogene Therapeutics, ALLO, Form 4, Insider Transaction, Stock Sale, Tax Withholding, Restricted Stock Units, RSU, Benjamin Beneski