Form 4: Annexon CFO Sells Shares for Tax Obligations

Annexon's EVP and Chief Financial Officer, Jennifer Lew, sold 1,117 shares of common stock to cover tax withholding obligations related to RSU vesting.

Summary

• Jennifer Lew, Executive Vice President and Chief Financial Officer of Annexon, Inc. (ANNX), reported a transaction on July 14, 2025.
• She sold 1,117 shares of Annexon Common Stock at a weighted average price of $2.58 per share, with individual trades ranging from $2.58 to $2.61.
• The sale was executed to cover tax withholding obligations in connection with the vesting of restricted stock units (RSUs).
• Following this transaction, Jennifer Lew directly beneficially owns 121,616 shares of Annexon Common Stock.

Sentiment

Score: 5

Explanation: The transaction is a routine, non-discretionary sale for tax purposes related to RSU vesting, which does not indicate positive or negative sentiment towards the company's prospects or operations.

Positives

• The sale was explicitly stated to be for tax withholding obligations related to RSU vesting, indicating a non-discretionary transaction rather than a change in investment sentiment.

Negatives

• No negative implications are apparent as the sale was for routine tax withholding purposes associated with equity compensation.

Risks

• NA

Future Outlook

NA

Management Comments

• The shares were sold to cover tax withholding obligations in connection with the vesting of restricted stock units ('RSUs').

Industry Context

Insider sales for tax withholding purposes upon RSU vesting are common and routine events for executives in publicly traded companies across all industries, reflecting standard compensation structures rather than a change in investment sentiment or company fundamentals.

Comparison to Industry Standards

• The sale of shares to cover tax obligations upon RSU vesting is a standard and widely accepted practice for executives across various industries, including biotechnology, and is not indicative of a company's performance or outlook. This mechanism is a common component of equity compensation management.

Stakeholder Impact

• Shareholders: The sale represents a minor, routine disposition of shares by an executive, which is a standard part of equity compensation and is not expected to significantly impact shareholder value or company strategy.
• Employees: No direct impact on employees is indicated by this routine transaction.

Next Steps

• NA

Key Dates

Recommendation

Keywords

Annexon, ANNX, Form 4, insider transaction, stock sale, RSU, restricted stock units, tax withholding, Jennifer Lew, CFO