Form 4: Allogene Therapeutics SVP, General Counsel Douglas Earl Martin Reports Stock Sale to Cover Tax Obligations

Douglas Earl Martin, SVP, General Counsel of Allogene Therapeutics, sold 28,310 shares of common stock on August 21, 2024, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On August 21, 2024, Douglas Earl Martin, SVP, General Counsel of Allogene Therapeutics, sold 28,310 shares of common stock.
• The sale was executed to cover tax withholding obligations associated with the vesting of restricted stock units.
• The shares were sold at a weighted average price of $2.785, with individual transactions ranging from $2.75 to $2.85.
• Following the transaction, Martin directly owns 449,324 shares of Allogene Therapeutics.
• Martin has granted a power of attorney to Geoffrey Parker, Annie Yoshiyama, and Lillian Smith of Allogene Therapeutics, Inc. to execute forms 3, 4, and 5 on his behalf.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sell to cover taxes) and doesn't contain any information that would significantly shift sentiment positively or negatively.

Positives

• The sale was part of a 'sell to cover' transaction mandated by the Issuer's equity incentive plan, indicating a structured approach to handling tax obligations.

Industry Context

Sales of stock to cover tax obligations upon vesting of restricted stock units are a common practice among company executives. This transaction is not necessarily indicative of the executive's sentiment towards the company's future prospects.

Key Dates