Form 4: Coherus BioSciences Executive Sells Shares to Cover Tax Obligations

Paul Reider, Chief Commercial Officer of Coherus BioSciences, sold 4,858 shares to cover tax liabilities related to vesting restricted stock units.

Summary

• Paul Reider, the Chief Commercial Officer of Coherus BioSciences, sold 4,858 shares of common stock on January 20, 2025.
• The sale was executed at a price of $1.39 per share.
• This transaction was to cover tax obligations associated with the vesting of restricted stock units.
• Following the transaction, Reider directly owns 82,069 shares of Coherus BioSciences stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, not indicative of positive or negative sentiment towards the company's performance.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Similar transactions are common across the biotechnology industry where stock-based compensation is a significant part of executive pay.
• Many executives at comparable companies such as Amgen, Gilead, and Biogen regularly file Form 4s for similar transactions related to stock options and restricted stock units.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Coherus BioSciences, Paul Reider, stock sale, Form 4, insider trading, restricted stock units, tax liability, CHRS