Form 4: ANAB CMO Sells Shares for Tax Obligations

AnaptysBio's Chief Medical Officer, Paul F. Lizzul, reported the acquisition of common stock from RSU vesting and a subsequent 'sell to cover' transaction for tax purposes.

Summary

• Paul F. Lizzul, Chief Medical Officer of AnaptysBio, acquired 10,555 shares of common stock on January 3, 2026, through the vesting and settlement of Restricted Stock Units (RSUs).
• Following this acquisition, Lizzul's direct beneficial ownership of common stock was 37,522 shares.
• On January 5, 2026, Lizzul sold 4,219 shares of common stock at a price of $43.26 per share.
• This sale was explicitly stated as a 'sell to cover' transaction to satisfy tax withholding obligations related to the RSU vesting, and it does not represent a discretionary transaction by the Reporting Person.
• After the sale, Lizzul's direct beneficial ownership of common stock was 33,303 shares.
• Lizzul also holds 21,110 Restricted Stock Units (RSUs) after the reported transactions.
• The RSUs vest as to 25% of the total annually, commencing on January 3, 2025, contingent on continued service to the Issuer.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction for tax purposes, which is neither inherently positive nor negative for the company's operational or financial performance.

Future Outlook

The RSU vesting schedule, with 25% vesting annually commencing January 3, 2025, implies the Chief Medical Officer's continued provision of service to the Issuer.

Management Comments

• The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs.
• The sale was to satisfy tax withholding obligations to be funded by a 'sell to cover' transaction and does not represent a discretionary transaction by the Reporting Person.

Industry Context

This transaction is a routine insider filing common across all industries where executives receive equity compensation in the form of Restricted Stock Units. 'Sell to cover' transactions are standard practice for managing tax liabilities upon vesting.

Related Party Transactions

• The acquisition of common stock through RSU vesting and subsequent 'sell to cover' transaction are part of the Chief Medical Officer's equity compensation plan.

Stakeholder Impact

• Shareholders may note the Chief Medical Officer's continued equity holdings and the non-discretionary nature of the stock sale, which is a standard practice for tax purposes.

Next Steps

• Continued annual vesting of remaining Restricted Stock Units (RSUs) on January 3rd of each year, subject to the Chief Medical Officer's continued service.

Key Dates

Recommendation

This Form 4 details a routine 'sell to cover' transaction by a Chief Medical Officer to satisfy tax obligations upon RSU vesting. Such non-discretionary sales are common and typically do not reflect management's view on the company's future prospects or warrant a change in investment recommendation. The filing provides no new material information regarding the company's operations, financial health, or strategic direction that would alter an existing investment thesis.

Keywords

ANAPTYSBIO, ANAB, Form 4, insider transaction, stock sale, RSU vesting, sell to cover, Chief Medical Officer, Paul F. Lizzul, equity compensation