Form 4: Allovir Executive Sells Shares to Cover Tax Obligations After Reverse Stock Split

Vikas Sinha, a director, 10% owner, and officer of Allovir, Inc., sold shares to cover tax obligations following a reverse stock split.

Summary

• On January 23, 2025, Vikas Sinha sold 116 shares of Allovir, Inc. common stock at a weighted average price of $9.4538, with prices ranging from $8.81 to $9.75.
• On the same day, Sinha sold an additional 13 shares at a weighted average price of $9.9402, with prices ranging from $9.81 to $10.04.
• These sales were to cover tax withholding obligations related to the vesting of restricted stock units and were automatic, not discretionary.
• Following these transactions, Sinha directly owns 49,432 shares of common stock.
• Sinha may also be deemed to have shared voting and investment power over 724,989 shares held by ElevateBio, where he serves as a director and Chief Financial Officer, but he disclaims beneficial ownership except to the extent of his pecuniary interest.
• The transactions occurred after a 1-for-23 reverse split of Allovir's common stock on January 16, 2025.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock sales for tax purposes, which is neither particularly positive nor negative.

Industry Context

This Form 4 filing is a routine disclosure of stock transactions by a company insider, which is common in the biopharmaceutical industry. Reverse stock splits are often used by companies to increase their stock price to meet listing requirements or attract institutional investors.

Stakeholder Impact

• The stock sales by an officer may have a minor impact on shareholder sentiment.

Key Dates