Form 4: Certara Executive Robert Aspbury Reports Stock Transactions
SEC Form 4 Filing
Robert Aspbury, President of Scientific Software at Certara, reports the vesting and settlement of restricted stock units (RSUs) and related tax withholding.
Summary
- On April 1, 2024, Robert Aspbury, President of Scientific Software at Certara, engaged in transactions involving Certara's common stock and restricted stock units (RSUs).
- These transactions included the vesting and settlement of RSUs granted under the company's 2020 Incentive Plan.
- Aspbury also had shares withheld to cover tax obligations related to the vesting of these RSUs.
- Following these transactions, Aspbury directly owns 290,176 shares of common stock and 30,381 RSUs.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.
Future Outlook
The remaining RSUs are scheduled to vest and settle on April 1, 2025, April 1, 2026 and April 1, 2027.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.
Comparison to Industry Standards
- Stock-based compensation, including RSUs, is a common practice in the pharmaceutical and software industries to align executive incentives with company performance.
- Companies like Simulations Plus and Schrödinger, which are competitors of Certara, also utilize stock-based compensation as part of their executive compensation packages.
- The vesting schedules and terms of the RSUs appear to be standard practice, with vesting occurring over a three-year period.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the ongoing compensation of a key executive.
- Employees may view the vesting of RSUs as a positive sign of the company's commitment to its employees.
Key Dates
| Date | Description |
|---|---|
| 04/01/2021 | Date of grant for some of the RSUs under the 2020 Incentive Plan. |
| 04/01/2022 | One-third of the RSUs granted on April 1, 2021 vested and were settled. |
| 03/31/2023 | One-third of the RSUs granted on April 1, 2021 and April 1, 2022 vested and were settled. |
| 04/01/2024 | Date of transactions reported, including vesting and settlement of RSUs, tax withholding, and grant of new RSUs. |
| 04/01/2025 | Scheduled vesting and settlement date for remaining RSUs from grants in 2022 and 2023, and the first tranche of RSUs granted in 2024. |
| 04/01/2026 | Scheduled vesting and settlement date for remaining RSUs from grant in 2023, and the second tranche of RSUs granted in 2024. |
| 04/01/2027 | Scheduled vesting and settlement date for the final tranche of RSUs granted in 2024. |
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