Form 4: BioRestorative Therapies CEO Lance Alstodt Reports Changes in Beneficial Ownership

Lance Alstodt, CEO of BioRestorative Therapies, reports a transaction involving the withholding of shares to cover withholding taxes, resulting in an adjusted beneficial ownership.

Summary

• On March 18, 2024, Lance Alstodt, the President, CEO, and Chairman of the Board of BioRestorative Therapies, Inc., reported a transaction.
• 17,633 shares of common stock were withheld from a vested stock grant to cover associated withholding taxes at a price of $1.39 per share.
• Following the transaction, Alstodt directly owns 171,872 shares of BioRestorative Therapies common stock.
• Alstodt also holds options to purchase 293,479 shares at $5.08 (fully vested), 42,059 shares at $5.08 (vesting in installments), 106,762 shares at $2.91 (vesting in installments), and 438,596 shares at $1.45 (vesting in installments).

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports a routine transaction related to tax obligations. It doesn't inherently indicate positive or negative news about the company's performance or future prospects.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track changes in ownership and potential alignment of interests.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it reflects a slight decrease in the CEO's direct share ownership due to tax obligations.

Key Dates