Form 4: Applied Therapeutics' Chief Medical Officer Sells Shares to Cover Tax Obligations

Riccardo Perfetti, Chief Medical Officer of Applied Therapeutics, sold 22,003 shares of common stock to cover tax withholding obligations related to the vesting and settlement of compensatory Restricted Stock Units.

Summary

• On June 6, 2024, Riccardo Perfetti, the Chief Medical Officer of Applied Therapeutics, Inc. (APLT), sold 22,003 shares of the company's common stock.
• The shares were sold at a price of $4.32 per share.
• The sale was executed to cover tax withholding obligations associated with the vesting and settlement of compensatory Restricted Stock Units.
• Following the transaction, Perfetti directly owns 1,009,534 shares of Applied Therapeutics common stock.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing related to stock sales for tax purposes. It doesn't inherently indicate positive or negative sentiment, but rather a routine financial transaction.

Management Comments

• 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

Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among corporate executives and do not necessarily indicate a negative outlook on the company's future.

Stakeholder Impact

• The sale of shares by a company executive could be perceived negatively by some shareholders, although it is a common practice for covering tax obligations.

Key Dates