Form 4: Assembly Biosciences CEO Sells Shares to Cover Tax Obligations
SEC Form 4
Assembly Biosciences CEO Jason A. Okazaki sold 549 shares of common stock on May 23, 2024, to cover tax withholding obligations related to the vesting and settlement of restricted stock units.
Summary
- On May 23, 2024, Jason A. Okazaki, CEO and President of Assembly Biosciences, Inc., sold 549 shares of the company's common stock.
- The sale was executed at a weighted average price of $14.9338 per share, with individual transactions ranging from $14.74 to $15.20.
- This transaction was conducted to cover tax withholding obligations associated with the vesting and settlement of restricted stock units, as mandated by an administrative rule of the company's Compensation Committee.
- Following the transaction, Okazaki directly owns 16,082 shares of Assembly Biosciences common stock, which includes 208 shares acquired under the company's Amended and Restated 2018 Employee Stock Purchase Plan on May 14, 2024.
Sentiment
Score: 6
Explanation: The document reflects a routine transaction (stock sale for tax obligations) by the CEO, which is neither particularly positive nor negative. It's a neutral event in the context of the company's overall performance.
Positives
- The sale was part of a pre-determined plan to cover tax obligations, indicating standard financial practice.
Industry Context
Sales of shares to cover tax obligations are a common practice among executives receiving stock-based compensation. This filing provides transparency into such transactions.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a small percentage of the outstanding shares and is related to tax obligations.
Key Dates
| Date | Description |
|---|---|
| 2018 | Amended and Restated 2018 Employee Stock Purchase Plan |
| 05/14/2024 | Okazaki acquired 208 shares under the Employee Stock Purchase Plan |
| 05/23/2024 | Okazaki sold 549 shares of common stock |
| 05/24/2024 | Date of signature for the Form 4 filing |
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