Form 4: Beam Therapeutics' Chief Medical Officer Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Amy Simon, Chief Medical Officer of Beam Therapeutics, sold shares of common stock on April 1st and 2nd, 2024, to cover tax withholding obligations.
Summary
- Amy Simon, the Chief Medical Officer of Beam Therapeutics, sold shares of the company's common stock on April 1, 2024, and April 2, 2024.
- The sales were executed to cover tax withholding obligations related to the vesting of restricted stock units.
- The shares were sold under Rule 10b5-1 trading plans adopted on May 19, 2023, and June 29, 2023.
- On April 1, 2024, 7,157 shares were sold at a weighted average price of $32.13, with individual transactions ranging from $32.10 to $32.17.
- On April 2, 2024, 16,530 shares were sold at a weighted average price of $30.5415, with individual transactions ranging from $30.24 to $31.00.
- Following the transactions, Amy Simon directly owns 70,060 shares of Beam Therapeutics common stock.
Sentiment
Score: 5
Explanation: The document reflects routine transactions related to executive compensation and tax planning, with no indication of positive or negative sentiment.
Industry Context
Executive stock sales are a common occurrence, often related to compensation and tax planning. The use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on insider information.
Stakeholder Impact
- The stock sales could have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 2021-03-31 | Date of restricted stock unit grant. |
| 2022-03-31 | Date of restricted stock unit grant. |
| 2023-03-31 | Date of restricted stock unit grant. |
| 2023-05-19 | Date of adoption of Rule 10b5-1 trading plan. |
| 2023-06-29 | Date of adoption of Rule 10b5-1 trading plan. |
| 2024-04-01 | Date of stock sale: 7,157 shares at $32.13 average price. |
| 2024-04-02 | Date of stock sale: 16,530 shares at $30.5415 average price. |
| 2024-04-03 | Date of Form 4 filing. |
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