Form 4: Biodesix Executive Sells Shares to Cover Taxes After RSU Vesting

Gary Anthony Pestano, Chief Development Officer of Biodesix Inc., sold shares of common stock to cover taxes upon the vesting of restricted stock units (RSUs).

Summary

• On May 8, 2024, Gary Anthony Pestano, Chief Development Officer of Biodesix Inc., had 1,378 restricted stock units (RSUs) vest, each representing a contingent right to receive one share of the company's common stock.
• To cover taxes associated with the vesting of these RSUs, Mr. Pestano sold 434 shares of Biodesix common stock on May 9, 2024, at a weighted average price of $1.4795 per share.
• The sales were executed automatically by the Issuer's broker to cover taxes upon the vesting of RSUs for certain employees of the Issuer, including the Reporting Person.
• Following these transactions, Mr. Pestano beneficially owns 124,248 shares of Biodesix common stock and 9,648 restricted stock units.
• The RSUs vest in a series of sixteen successive quarterly installments measured from February 8, 2022, generally subject to the Reporting Person's continued service with the Issuer, and have no expiration date.
• An aggregate 54 shares were inadvertently reported as being sold on February 9 and February 12, 2024 in the Form 4 filed by the Reporting Person on February 12, 2024.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of stock sales to cover taxes, a routine event.

Industry Context

Form 4 filings are routine disclosures of transactions by company insiders and are a normal part of the financial markets.

Stakeholder Impact

• The sale of shares by an executive could have a minor negative impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.

Key Dates