Form 4: Cryoport CFO Robert Stefanovich Reports Stock Transactions
SEC Form 4
Robert Stefanovich, CFO of Cryoport, Inc., reports the conversion of restricted stock rights, sale of common stock for tax obligations, and acquisition of new restricted stock rights and stock options.
Summary
- On March 9, 2024, Robert Stefanovich converted 2,666 restricted stock rights into common stock.
- On March 11 and 15, 2024, Stefanovich sold 1,119 and 1,035 shares of common stock at prices of $16.3524 and $15.4322 respectively, to cover tax obligations.
- On March 15, 2024, Stefanovich acquired 5,750 restricted stock rights that vest in four equal annual installments beginning March 15, 2025.
- Also on March 15, 2024, Stefanovich acquired 11,500 stock options with an exercise price of $16.7, vesting monthly beginning April 25, 2024, and expiring on March 15, 2031.
- Following these transactions, Stefanovich directly owns 129,412 shares of common stock, 2,667 restricted stock rights, and 11,500 stock options.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions, which carries a neutral sentiment.
Future Outlook
The newly acquired restricted stock rights vest annually beginning March 15, 2025, and the stock options vest monthly beginning April 25, 2024.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency to investors regarding the executive's stake in the company.
Comparison to Industry Standards
- Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
- Vesting schedules for stock options and restricted stock rights are typical and designed to incentivize long-term performance.
- Sales of stock to cover tax obligations upon vesting are a common practice among executives.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the CFO's holdings.
- Employees may be indirectly affected by the vesting of stock options and restricted stock rights, as these are part of the company's compensation structure.
Key Dates
| Date | Description |
|---|---|
| 03/09/2024 | Conversion of restricted stock rights to common stock. |
| 03/11/2024 | Sale of common stock. |
| 03/15/2024 | Sale of common stock, acquisition of restricted stock rights and stock options. |
| 03/15/2025 | First vesting date for new restricted stock rights. |
| 03/15/2031 | Expiration date for stock options. |
| 04/25/2024 | First vesting date for stock options. |
| 03/19/2024 | Date of report. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.