Form 4: BioAffinity Technologies Director Gary Rubin Reports Stock Grant and Trust Holdings
SEC Form 4 Filing
Gary Rubin, a director and 10% owner of bioAffinity Technologies, reported the acquisition of restricted shares and holdings through the Harvey Sandler Revocable Trust.
Summary
- On July 1, 2024, Gary Rubin, a director and 10% owner of bioAffinity Technologies, reported transactions involving the company's common stock.
- Rubin acquired 33,784 shares of common stock through a grant of restricted shares.
- These shares vest pro rata on a monthly basis over 12 months, starting August 1, 2024.
- Rubin also reported indirect ownership of 1,584,144 shares held by the Harvey Sandler Revocable Trust, for which he serves as co-trustee.
- Following these transactions, Rubin directly owns 146,597 shares of common stock.
- Rubin disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing. It doesn't inherently convey positive or negative sentiment, but rather reports factual transactions.
Positives
- The grant of restricted shares to a director could align their interests with those of the shareholders.
Future Outlook
The vesting of restricted shares over the next 12 months may influence the director's actions and alignment with shareholder value.
Management Comments
- Mr. Rubin disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency regarding the transactions of company insiders. This filing indicates changes in ownership by a director and significant shareholder.
Stakeholder Impact
- Shareholders are informed about changes in ownership by a director and significant shareholder.
- The vesting of restricted shares may incentivize the director to act in the best interests of the company.
Key Dates
| Date | Description |
|---|---|
| 07/01/2024 | Date of transaction: acquisition of restricted shares and reporting of trust holdings. |
| 07/02/2024 | Date of signature for the Form 4 filing. |
| 08/01/2024 | Vesting start date for the restricted shares, vesting pro rata monthly for 12 months. |
Keywords
Form 4, bioAffinity Technologies, BIAF, Gary Rubin, Director, 10% Owner, Harvey Sandler Revocable Trust, Restricted Shares, Beneficial Ownership, Common Stock
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