Form 4: Annexon EVP Michael Overdorf Sells Shares to Cover Tax Obligations

Michael Overdorf, EVP & Chief Business Officer of Annexon, Inc., sold 784 shares of common stock on July 15, 2024, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On July 15, 2024, Michael Overdorf, the EVP & Chief Business Officer of Annexon, Inc. (ANNX), sold 784 shares of common stock.
• The sale was executed to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• The shares were sold at a weighted average price of $6.02, with individual trades ranging from $5.99 to $6.05.
• Following the transaction, Overdorf beneficially owns 94,622 shares of Annexon common stock, which includes 9,765 shares acquired on May 15, 2024, through the Employee Stock Purchase Plan.

Sentiment

Score: 6

Explanation: The document is neutral. It simply reports a transaction by an executive to cover tax obligations, which is a routine event.

Industry Context

Form 4 filings are a routine part of the stock market, providing transparency into the transactions of company insiders. This sale appears to be related to tax obligations and doesn't necessarily indicate a change in Overdorf's long-term outlook on the company.

Stakeholder Impact

• The sale is unlikely to have a significant impact on shareholders, as it is a small percentage of Overdorf's total holdings and appears to be for tax purposes.

Key Dates