Form 4: Arcellx CEO Sells Shares to Cover Tax Obligations After RSU Vesting
SEC Form 4 Filing
Arcellx CEO Rami Elghandour sold shares to cover tax obligations following the vesting of restricted stock units.
Summary
- Arcellx CEO Rami Elghandour sold 16,474 shares on January 7, 2025, at an average price of $75.5283 per share.
- He also sold 13,837 shares on January 8, 2025, at an average price of $73.6929 per share.
- These sales were made to cover tax withholding obligations related to the vesting of restricted stock units.
- The CEO also acquired 53,097 shares through the vesting of restricted stock units on January 3, 2025.
- Following these transactions, the CEO directly owns 117,275 shares of Arcellx common stock.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment.
Industry Context
This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.
Comparison to Industry Standards
- Executive stock sales to cover tax obligations are a common practice across the biotechnology industry.
- Many biotech companies use restricted stock units as part of their compensation packages, leading to similar sales by executives at other firms.
- The sale prices are within the typical range for stock transactions of this nature.
Stakeholder Impact
- The stock sales may have a minor impact on the stock price, but are not expected to be significant.
Key Dates
| Date | Description |
|---|---|
| 01/03/2023 | RSU Grant Date |
| 01/03/2025 | Vesting of 53,097 restricted stock units |
| 01/07/2025 | Sale of 16,474 shares at $75.5283 per share |
| 01/08/2025 | Sale of 13,837 shares at $73.6929 per share |
| 01/10/2025 | Date of filing the Form 4 |
Keywords
Arcellx, CEO, Rami Elghandour, stock sale, restricted stock units, RSU, tax obligations, insider trading
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