Form 4: Athira Pharma CEO Mark Litton Reports RSU Vesting and Tax-Related Stock Sale
Insider Transaction Report
Athira Pharma, Inc.'s President and CEO, Mark James Litton, reported the vesting of restricted stock units and a subsequent sale of shares to cover tax obligations.
Summary
- Mark James Litton, President and CEO of Athira Pharma, Inc., reported transactions related to his equity holdings.
- On June 30, 2025, 108,334 Restricted Stock Units (RSUs) vested, converting into an equal number of common shares.
- Following the vesting, on July 1, 2025, Litton sold 25,123 shares of common stock at a weighted-average price of $0.2935 per share.
- This sale was non-discretionary and conducted to cover tax withholding and remittance obligations associated with the RSU vesting, as per the company's mandatory "sell to cover" policy.
- The shares were sold in multiple transactions with prices ranging from $0.2854 to $0.3031.
- After these transactions, Litton directly beneficially owns 325,802 shares of common stock and indirectly owns 19,689 shares (6,563 shares each through three separate irrevocable trusts for the benefit of his children).
- He also directly holds 108,333 unvested Restricted Stock Units.
Sentiment
Score: 5
Explanation: A routine Form 4 filing detailing RSU vesting and a mandatory 'sell to cover' transaction. It is neutral in sentiment as it reflects standard executive compensation processes rather than discretionary actions or significant new company developments.
Negatives
- The sale of 25,123 shares, even for tax purposes, reduces the executive's direct ownership in the company.
- The weighted-average sale price of $0.2935 per share is a low valuation for the stock.
Related Party Transactions
- Indirect beneficial ownership of Common Stock through Irrevocable Trust of OSL, Irrevocable Trust of SWL, and Irrevocable Trust of WGL, all held for the benefit of Dr. Litton's children.
Stakeholder Impact
- Shareholders: The sale of shares, while for tax purposes, slightly reduces the executive's direct ownership. The low sale price might be noted by investors.
Next Steps
- The remaining 108,333 Restricted Stock Units held by Mark Litton are scheduled to vest on December 31, 2025, subject to his continued service as a Service Provider.
Key Dates
| Date | Description |
|---|---|
| 2024-10-01 | Date Mark Litton was granted 325,000 Restricted Stock Units (RSUs). |
| 2024-12-31 | First vesting date for one-third of the granted RSUs. |
| 2025-06-30 | Date of RSU vesting (108,334 units) and earliest transaction date reported. |
| 2025-07-01 | Date of common stock sale to cover tax obligations. |
| 2025-07-02 | Signature date of the Form 4 filing. |
| 2025-12-31 | Final vesting date for one-third of the granted RSUs. |
Keywords
Athira Pharma, ATHA, Mark James Litton, SEC Form 4, Insider Trading, Restricted Stock Units, RSU Vesting, Stock Sale, Sell to Cover, Executive Compensation, Beneficial Ownership
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.