Form 4: Atara Biotherapeutics CEO Sells Shares to Cover Tax Obligations

Atara Biotherapeutics CEO Pascal Touchon sold 81,506 shares of common stock on May 16, 2024, at a price of $0.617 per share to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On May 16, 2024, Pascal Touchon, the President and CEO of Atara Biotherapeutics, sold 81,506 shares of the company's common stock.
• The shares were sold at a price of $0.617 per share.
• The sale was executed to satisfy tax withholding obligations related to the vesting of previously granted restricted stock units.
• Following the transaction, Touchon directly owns 1,829,146 shares of Atara Biotherapeutics.
• The sale price represents the weighted average price of all shares sold by a broker on May 16 and May 17, 2024, on behalf of a group of employees of the Issuer to satisfy the payment of withholding tax liability of such employees.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (selling shares to cover taxes) and doesn't contain any information that would significantly impact sentiment positively or negatively.

Industry Context

Sales of shares to cover tax obligations are a routine part of executive compensation, particularly when dealing with stock options or restricted stock units. It is a common practice and doesn't necessarily reflect a change in the executive's confidence in the company.

Key Dates