Form 4: Arcus Biosciences Chief Medical Officer Sells Shares to Cover Tax Obligations

Dimitry Nuyten, Chief Medical Officer of Arcus Biosciences, sold 7,856 shares of common stock to cover tax obligations related to vesting RSUs.

Summary

• Dimitry Nuyten, the Chief Medical Officer of Arcus Biosciences, sold 7,856 shares of common stock on December 15, 2024.
• The sale was executed at a price of $16.08 per share.
• This transaction was a 'net settlement' by the company to cover tax withholding obligations related to the vesting of previously granted Restricted Stock Units (RSUs).
• Following the transaction, Nuyten directly owns 87,518 shares of Arcus Biosciences common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, not indicative of positive or negative sentiment towards the company's prospects.

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 RSUs vest.

Comparison to Industry Standards

• Similar transactions are common across the biotechnology industry, where stock-based compensation is a significant part of executive pay.
• Many executives at comparable companies such as Gilead Sciences, Regeneron Pharmaceuticals, and Vertex Pharmaceuticals regularly file Form 4s for similar transactions related to stock options and RSUs.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Arcus Biosciences, Dimitry Nuyten, Chief Medical Officer, stock sale, Form 4, RSU, tax obligations, insider trading