Form 4: Carmell Corp Director Patrick Sturgeon Reports Acquisition of Common Stock
SEC Form 4 Filing
Director Patrick Sturgeon reports acquiring 109 shares of Carmell Corp common stock at $0.57 per share through Carmell Insiders LLC.
Summary
- Patrick Sturgeon, a director of Carmell Corp, filed a Form 4 disclosing changes in beneficial ownership.
- On August 30, 2024, Sturgeon acquired 109 shares of common stock at a price of $0.57 per share.
- These shares were acquired indirectly through Carmell Insiders LLC, in which Sturgeon holds a 23.9% interest.
- The total amount invested in the LLC by its members was $130,750 as of the date of the filing.
- Sturgeon also directly owns 19,220 shares of common stock that may be acquired pursuant to the exercise of stock options within 60 days of the date of this filing.
- Additionally, Sturgeon directly owns 97,038 shares of common stock, 50% of which are subject to forfeiture if the stock price does not exceed $11.50 for 20 trading days within a 30-trading day period in the five years after July 14, 2023.
Sentiment
Score: 6
Explanation: The sentiment is neutral to slightly positive. The director's purchase suggests confidence, but the small size and the forfeiture conditions temper the enthusiasm.
Positives
- A director's purchase of shares can be seen as a positive signal, indicating confidence in the company's future prospects.
Risks
- 50% of the shares beneficially owned by the Reporting Person are subject to forfeiture if, in the five years subsequent to July 14, 2023, the price of the common stock does not exceed $11.50 for any 20 trading days within any 30-trading day period.
Industry Context
Form 4 filings are a routine part of regulatory compliance for corporate insiders and provide transparency into their trading activities. The purchase by a director could be interpreted as a positive signal, but the small size of the purchase relative to existing holdings suggests it may not be a major market-moving event.
Stakeholder Impact
- The director's purchase could have a slightly positive impact on shareholder sentiment.
Key Dates
| Date | Description |
|---|---|
| July 14, 2023 | Date from which the five-year period for the stock price condition ($11.50 for 20 trading days within a 30-day period) is measured for potential forfeiture of 50% of shares. |
| 08/30/2024 | Date of the transaction where Patrick Sturgeon acquired 109 shares of common stock through Carmell Insiders LLC. |
| 09/04/2024 | Date of the Form 4 filing. |
Keywords
Carmell Corp, CTCX, Patrick Sturgeon, Form 4, Beneficial Ownership, Insider Trading, Common Stock, Director
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