Form 4: Altimmune Officer Acquires Shares Through Employee Stock Purchase Plan
SEC Form 4 Filing
Matthew Scott Harris, Chief Medical Officer of Altimmune, Inc., acquired 1,486 shares of common stock through the company's Employee Stock Purchase Plan at a price of $5.41 per share.
Summary
- On July 31, 2024, Matthew Scott Harris, Chief Medical Officer of Altimmune, Inc., acquired 1,486 shares of common stock.
- The acquisition was made through the company's 2019 Employee Stock Purchase Plan (ESPP).
- The shares were purchased at a price of $5.41 per share, which represents 85% of the closing price of Altimmune's common stock on July 31, 2024.
- Following the transaction, Harris directly owns 55,119 shares of Altimmune common stock.
- Harris has also granted a Power of Attorney to Vipin K. Garg and Andrew Shutterly to execute and file SEC forms on his behalf.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine transaction related to an employee stock purchase plan. The officer's participation could be seen as a slightly positive signal, but it's not a major event.
Positives
- The acquisition of shares by a company officer can be seen as a positive sign, indicating confidence in the company's future prospects.
Industry Context
This filing is a routine disclosure related to insider transactions and is common for publicly traded companies. It provides transparency regarding the ownership of company stock by its officers and directors.
Comparison to Industry Standards
- Employee Stock Purchase Plans (ESPPs) are a common benefit offered by many publicly traded companies, including those in the biotechnology sector like Altimmune.
- The discount of 15% (purchase at 85% of market price) is a typical feature of ESPPs.
- Similar filings are regularly made by officers and directors of companies like Moderna, BioNTech, and Novavax, reflecting their participation in company stock plans or open market purchases.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders.
- It provides transparency to shareholders regarding insider ownership.
Key Dates
| Date | Description |
|---|---|
| February 1, 2024 | Start of the ESPP purchase period. |
| July 31, 2024 | Date of the share acquisition and end of the ESPP purchase period. |
| August 1, 2024 | Date of the Power of Attorney execution. |
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