Form 4: CytomX Therapeutics SVP Marcia Belvin Reports Stock Transactions
SEC Form 4 Filing
Marcia Belvin, SVP and Chief Scientific Officer of CytomX Therapeutics, reports the vesting of performance stock units and subsequent sale of shares to cover tax obligations.
Summary
- On August 20, 2024, Marcia Belvin, SVP and Chief Scientific Officer of CytomX Therapeutics, vested 11,250 Performance Stock Units (PSUs).
- Following the vesting, Ms. Belvin sold 4,181 shares of common stock at a price of $1.2291 per share.
- The sale was executed to satisfy tax or other government withholding obligations related to the PSU vesting.
- After these transactions, Ms. Belvin beneficially owns 175,648 shares of CytomX Therapeutics common stock, including 109,166 restricted stock units.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports routine stock transactions related to vesting and tax obligations.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the sale of shares, but it is primarily driven by tax obligations.
Key Dates
| Date | Description |
|---|---|
| 08/10/2022 | Initial grant date of the Performance Stock Unit (PSU) award. |
| 12/17/2023 | 50% of the PSUs vested upon achievement of a performance-based milestone. |
| 08/20/2024 | Vesting of 11,250 Performance Stock Units (PSUs) and sale of 4,181 shares. |
| 08/22/2024 | Date of signature for the Form 4 filing. |
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