Form 4: Bioventus Inc. Executive Sells Shares to Cover Taxes After Vesting of Restricted Stock Units

Anthony D'Adamio, SVP & General Counsel of Bioventus Inc., sold 5,904 shares of Class A Common Stock to cover taxes upon the vesting of restricted stock units.

Summary

• On June 21, 2024, Anthony D'Adamio, SVP & General Counsel of Bioventus Inc., sold 5,904 shares of Class A Common Stock.
• The sale was executed at a weighted average price of $5.57 per share.
• This transaction was made pursuant to a standing 10b5-1 instruction adopted on June 20, 2023, to cover taxes upon the vesting of restricted stock units on June 20, 2024.
• Following the transaction, D'Adamio beneficially owns 95,576 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, with no indication of positive or negative sentiment.

Industry Context

Sales of shares to cover tax obligations after vesting of restricted stock units are a common practice among corporate executives. The use of 10b5-1 plans allows insiders to sell shares at predetermined times and prices, avoiding accusations of trading on non-public information.

Comparison to Industry Standards

• Executive stock sales for tax purposes are a standard practice across publicly traded companies.
• Companies like Stryker, Johnson & Johnson, and Medtronic also see similar transactions from their executives related to equity compensation.
• The use of 10b5-1 trading plans is a common method to ensure compliance with insider trading regulations, aligning with practices observed at companies like Zimmer Biomet and Smith & Nephew.

Key Dates