Form 4: Allovir CFO Vikas Sinha Sells Shares to Cover Tax Obligations

Vikas Sinha, CFO of Allovir, sold 5,251 shares of common stock on August 5, 2024, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On August 5, 2024, Vikas Sinha, the President and Chief Financial Officer of Allovir, Inc., sold 5,251 shares of Allovir's common stock.
• The sale was executed at a weighted average price ranging from $0.73 to $0.75, with an average of $0.7348.
• The shares were sold to cover tax withholding obligations related to the vesting of restricted stock units.
• Following the transaction, Sinha directly owns 1,156,743 shares of Allovir's common stock.
• Sinha may also be deemed to have shared voting and investment power over 16,674,766 shares held by ElevateBio LLC, where he serves as a director and CFO, but he disclaims beneficial ownership except to the extent of his pecuniary interest.
• The reporting person has appointed Brett Hagen as Attorney-in-Fact.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to stock transactions by a company insider. It doesn't inherently convey positive or negative sentiment, as it's a standard reporting requirement.

Industry Context

Form 4 filings are standard practice for company insiders (officers, directors, and large shareholders) to report transactions in their company's stock to the SEC. This provides transparency to the market regarding insider activity.

Stakeholder Impact

• The sale of shares by an insider could have a minor impact on shareholder sentiment, but is unlikely to have a significant impact as it is for tax obligations.

Key Dates