Form 4: Cytek Biosciences SVP Allen Poirson Reports Stock Transactions
SEC Form 4 Filing
Allen Poirson, SVP of Business and Corporate Development at Cytek Biosciences, reported the vesting of restricted stock units and subsequent sale of shares to cover tax obligations on May 20, 2024.
Summary
- On May 20, 2024, Allen Poirson, SVP of Business and Corporate Development at Cytek Biosciences, exercised restricted stock units (RSUs) and sold shares to cover tax obligations.
- The transactions involved the vesting of 790, 1,669, and 1,252 shares of common stock through RSU awards.
- A total of 1,447 shares were withheld by the issuer to satisfy tax obligations at a price of $5.96 per share.
- Following these transactions, Poirson directly owns 53,669 shares of Cytek Biosciences common stock and holds 28,804 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine disclosure of insider transactions related to equity compensation, and it doesn't inherently indicate positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders, like officers and directors, trade their company's stock; this provides transparency to the market.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they represent a small percentage of the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| May 18, 2022 | Initial vesting date for 4/48th of the shares underlying one RSU Award. |
| May 18, 2023 | Initial vesting date for 2/48th of the shares underlying one RSU Award. |
| November 30, 2023 | Reporting Person acquired 350 shares under the Issuer's 2021 Employee Stock Purchase Plan. |
| March 10, 2024 | Vesting date for 4/48th of the total shares underlying one RSU Award. |
| May 18, 2024 | Initial vesting date for 2/48th of the shares underlying one RSU Award. |
| May 20, 2024 | Date of stock transactions: RSU vesting and share sales for tax obligations. |
| May 22, 2024 | Date of signature for the Form 4 filing. |
| March 10, 2025 | Future vesting date for 4/48th of the total shares underlying one RSU Award. |
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