Form 4: Ardelvx CEO Michael Raab Sells Shares to Cover Taxes After RSU Vesting
SEC Form 4 Filing
Michael Raab, CEO of Ardelvx, Inc., sold 32,225 shares of common stock on August 20, 2024, to cover withholding taxes related to the vesting of restricted stock units.
Summary
- On August 20, 2024, Michael Raab, the President and CEO of Ardelvx, Inc., sold 32,225 shares of the company's common stock at a price of $5.8603 per share.
- The sale was executed automatically to cover applicable withholding taxes upon the vesting of restricted stock units (RSUs).
- Following the transaction, Raab directly owns 1,227,009 shares of Ardelvx common stock.
- Raab also indirectly owns 24,364 shares through a family trust and 1,000 shares through trusts for the benefit of his children.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transaction is a routine sale of shares to cover tax obligations related to RSU vesting.
Industry Context
This is a routine transaction related to executive compensation and tax obligations. It is common for executives to sell shares acquired through equity compensation to cover taxes.
Key Dates
| Date | Description |
|---|---|
| July 25, 2012 | Date of the Michael G. Raab Living Trust |
| 08/20/2024 | Date of the stock sale transaction |
| 08/22/2024 | Date of signature for the SEC filing |
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