Form 4: Certara Inc. Executive Robert Aspbury Reports Stock Transactions Following PSU Vesting
SEC Form 4 Filing
Robert Aspbury, President of Scientific Software at Certara, Inc., reports the acquisition and disposal of common stock related to the vesting of performance stock units (PSUs) to cover tax obligations.
Summary
- On March 5, 2024, Robert Aspbury, President of Scientific Software at Certara, Inc., reported transactions involving Certara's common stock.
- These transactions are related to the vesting of performance stock units (PSUs) granted under the company's 2020 Incentive Plan.
- Specifically, 11,960 PSUs granted on April 1, 2021, and 3,589 PSUs granted on July 1, 2021, vested and were settled on March 5, 2024.
- Shares were withheld to satisfy tax obligations, with 5,622 shares withheld at $18.88 per share related to the April 1, 2021 grant and 1,689 shares withheld at $18.88 per share related to the July 1, 2021 grant.
- Following these transactions, Aspbury directly owns 284,303 shares of Certara's common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership. It provides transparency into the transactions of company insiders and is a standard practice for publicly traded companies.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies like Certara, similar to filings made by executives at comparable companies such as Simulations Plus or Schrödinger.
- The vesting of performance-based equity awards is a common compensation practice in the pharmaceutical technology and simulation industry, aligning executive incentives with company performance, similar to equity grants at companies like Dassault Systèmes.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the standard vesting of executive compensation.
- Employees who are also PSU recipients may be interested in the details of the vesting and tax implications.
Key Dates
| Date | Description |
|---|---|
| 2021-04-01 | Grant date of 11,960 performance stock units (PSUs). |
| 2021-07-01 | Grant date of 3,589 performance stock units (PSUs). |
| 2021-01-01 | Start of the three-year performance period for the PSUs. |
| 2023-12-31 | End of the three-year performance period for the PSUs. |
| 2024-03-05 | Date of the reported transactions: vesting and settlement of PSUs, and withholding of shares for taxes. |
| 2024-03-06 | Date of signature on the Form 4 filing. |
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