Form 4: Aptevo Therapeutics Director Exercises Restricted Stock Units
SEC Form 4 Filing
Director Daniel Abdun-Nabi reports exercising restricted stock units for Aptevo Therapeutics common stock.
Summary
- Daniel Abdun-Nabi, a director of Aptevo Therapeutics Inc., reported transactions involving restricted stock units (RSUs) converting into common stock.
- On June 1, 2024, 7 RSUs were converted into 196 shares of common stock.
- On June 2, 2024, 81 RSUs were converted into 277 shares of common stock.
- These transactions were reported on a Form 4 filing with the SEC.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of insider transactions, neither particularly positive nor negative.
Industry Context
Form 4 filings are standard disclosures required by the SEC when insiders, such as directors and officers, trade in their company's stock. These filings provide transparency to the market regarding insider activity.
Stakeholder Impact
- The transactions have a minor dilutive effect on existing shareholders due to the issuance of new shares upon RSU conversion.
Key Dates
| Date | Description |
|---|---|
| June 1, 2021 | Reporting person was granted 893 (20 post-split) RSUs, vesting in three approximately equal annual installments beginning on June 1, 2022. |
| June 1, 2022 | First vesting date of RSUs granted on June 1, 2021. |
| June 2, 2023 | Reporting person was granted 3,571 (81 post-split) RSUs, vesting in full on the first anniversary of the date of grant. |
| March 5, 2024 | Aptevo Therapeutics effected a 1-for-44 reverse stock split. |
| June 1, 2024 | 7 RSUs converted into 196 shares of common stock. |
| June 2, 2024 | 81 RSUs converted into 277 shares of common stock. |
| June 3, 2024 | Date of the Form 4 filing. |
Keywords
Aptevo Therapeutics, Director, Abdun-Nabi, RSU, Common Stock, Form 4, SEC, Reverse Stock Split
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