Form 4: Allovir Inc. General Counsel Sells Shares to Cover Tax Obligations

Allovir Inc.'s General Counsel, Edward Miller, sold 432 shares of common stock to cover tax obligations related to vesting restricted stock units.

Summary

• Edward Miller, General Counsel of Allovir Inc., sold 432 shares of common stock on November 19, 2024.
• 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 $0.5485, with individual transactions ranging from $0.545 to $0.572.
• Following the transaction, Miller directly owns 211,499 shares and indirectly owns 288,799 shares through The Miller Family 2019 Irrevocable Dynasty Trust.
• Miller disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes and does not indicate any positive or negative sentiment.

Industry Context

This is a routine filing related to insider transactions and is common for executives who receive stock-based compensation. It does not indicate any specific trend or issue within the biotechnology industry.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, and this transaction is consistent with typical insider sales to cover tax obligations.
• Similar transactions are regularly reported by executives at comparable biotechnology companies.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a small sale of shares by an executive for tax purposes.

Key Dates

Keywords

Allovir Inc., stock sale, insider trading, Form 4, restricted stock units, tax obligations, Edward Miller, General Counsel