Form 4: Assembly Biosciences CEO Sells Shares to Cover Tax Obligations, Receives Stock Options
SEC Form 4 Filing
CEO of Assembly Biosciences, Jason A. Okazaki, sold shares to cover tax obligations related to vested restricted stock units and received a grant of stock options.
Summary
- On March 31, 2025, Jason A. Okazaki, CEO and President of Assembly Biosciences, sold 355 shares of common stock at a weighted average price of $9.8481.
- The sale was to cover tax withholding obligations related to the vesting and settlement of restricted stock units, as mandated by an administrative rule.
- The shares were sold in multiple transactions at prices ranging from $9.56 to $10.40.
- Okazaki also acquired 71,100 stock options on March 29, 2025, with an exercise price of $10.62.
- The stock options vest over four years, with 25% vesting on March 29, 2026, and the remaining 75% vesting in monthly installments until March 29, 2029.
- Following the reported transactions, Okazaki beneficially owns 14,757 shares of common stock and 71,100 stock options.
Sentiment
Score: 6
Explanation: The document is neutral, reporting routine transactions. The stock option grant is a positive sign, but the share sale is a standard sell-to-cover transaction.
Positives
- The grant of stock options aligns the CEO's interests with the long-term performance of the company.
- The vesting schedule of the stock options encourages continued service and commitment from the CEO.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track executive compensation and ownership changes.
Stakeholder Impact
- Shareholders may be interested in the CEO's transactions as an indicator of management's confidence in the company.
- Employees may be impacted by the Employee Stock Purchase Plan.
Key Dates
| Date | Description |
|---|---|
| 11/14/2024 | 208 shares acquired under the Assembly Biosciences, Inc. Second Amended and Restated 2018 Employee Stock Purchase Plan. |
| 03/29/2025 | Grant date of stock options. |
| 03/31/2025 | Date of common stock sale. |
| 03/29/2026 | First vesting date for 25% of the stock options. |
| 03/29/2029 | Full vesting date for the stock options. |
| 03/29/2035 | Expiration date of stock options. |
| 04/01/2025 | Date of signature on the Form 4. |
Keywords
Assembly Biosciences, ASMB, Jason A. Okazaki, Stock Options, Share Sale, Form 4, Tax Withholding, CEO, Director
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