Form 4: Allovir CEO Diana Brainard Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Allovir's CEO, Diana Brainard, sold shares of common stock on May 21, 2024, to cover tax withholding obligations related to vesting restricted stock units.
Summary
- On May 21, 2024, Diana Brainard, the CEO of Allovir, Inc., sold 5,149 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 $0.7923, with individual transactions ranging from $0.7899 to $0.7994.
- Following the transaction, Brainard still beneficially owns 784,471 shares of Allovir common stock.
Sentiment
Score: 5
Explanation: This is a neutral event. The CEO sold shares to cover taxes, which is a common practice and doesn't necessarily indicate a positive or negative outlook for the company.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors. This particular filing reflects a common practice of selling shares to cover tax obligations associated with equity compensation.
Stakeholder Impact
- The sale of shares by the CEO could have a minor, temporary impact on the stock price, but it is unlikely to be significant given the reason for the sale.
Key Dates
| Date | Description |
|---|---|
| 05/21/2024 | Date of stock sale transaction. |
| 05/23/2024 | Date of signature on the Form 4 filing. |
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