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

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

Summary

• On April 19, 2024, Edward Miller, the General Counsel of Allovir, Inc., sold 626 shares of common stock at a weighted average price of $0.7506 per share to cover tax obligations related to vesting restricted stock units.
• On April 22, 2024, Miller sold an additional 757 shares of common stock at $0.75 per share for the same reason.
• Following these transactions, Miller directly owns 223,227 shares of Allovir common stock.
• Miller also indirectly owns 288,799 shares through The Miller Family 2019 Irrevocable Dynasty Trust, but disclaims beneficial ownership except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document describes routine stock sales to cover tax obligations, which is neutral in sentiment.

Industry Context

Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among company executives and are generally not indicative of the company's financial health or future prospects.

Stakeholder Impact

• The stock sales may have a minor dilutive effect on existing shareholders, but the impact is likely minimal given the small number of shares involved.

Key Dates