Form 4: Cara Therapeutics Officer Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Joana Goncalves, Chief Medical Officer of Cara Therapeutics, sold 2,753 shares of common stock on April 5, 2024, to cover tax obligations related to vesting restricted stock units.
Summary
- On April 5, 2024, Joana Goncalves, the Chief Medical Officer of Cara Therapeutics, Inc. (CARA), sold 2,753 shares of common stock.
- The sale was executed at a price of $0.83 per share.
- The transaction was conducted under a pre-arranged 'sell to cover' arrangement adopted on March 12, 2020, to satisfy tax withholding obligations triggered by the vesting of restricted stock units.
- Following the transaction, Goncalves directly owns 53,365 shares of Cara Therapeutics.
Sentiment
Score: 5
Explanation: This is a neutral event. The sale is related to tax obligations and doesn't necessarily reflect a change in the officer's confidence in the company.
Industry Context
This is a routine Form 4 filing, indicating a transaction by a company insider. Such filings are common and provide transparency into the trading activities of company executives and directors. The sale was to cover tax obligations, which is a common practice.
Key Dates
| Date | Description |
|---|---|
| 2020-03-12 | Date the reporting person adopted the 'sell to cover' arrangement. |
| 2024-04-05 | Date of the transaction (stock sale). |
| 2024-04-09 | Date of signature on the Form 4 filing. |
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