Form 4: Denali Therapeutics Director Steve Krognes Reports Stock Sales
SEC Form 4
Director Steve Krognes of Denali Therapeutics reports the sale of common stock, including transactions made under a Rule 10b5-1 trading plan.
Summary
- Steve Krognes, a director at Denali Therapeutics Inc., filed a Form 4 detailing changes in beneficial ownership.
- On June 13, 2024, Krognes sold 688 shares of common stock at $21.79 per share.
- On July 1, 2024, he sold 29,900 shares at a weighted average price of $22.12 per share, with prices ranging from $21.80 to $22.78.
- An additional 100 shares were sold on July 1, 2024, at $22.8 per share.
- These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 1, 2023.
- Following these transactions, Krognes directly owns 34,404 shares, which includes 18,467 unvested RSUs.
- He also indirectly owns 838,216 shares through The Steve Edward Krognes Revocable Trust U/A DTD 01/25/2016, where he serves as trustee.
- 11,784 shares were allocated from the Steven Edward Krognes Revocable Trust to the Reporting Person.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports stock sales by a director under a pre-arranged trading plan, which is a common and legal practice.
Industry Context
Sales by insiders are a common occurrence and are often related to personal financial planning rather than a reflection of the company's prospects. Rule 10b5-1 plans are designed to allow insiders to sell shares without being accused of trading on non-public information.
Key Dates
| Date | Description |
|---|---|
| 2016-01-25 | Date of The Steve Edward Krognes Revocable Trust U/A DTD |
| 2023-12-01 | Date of adoption of Rule 10b5-1 trading plan |
| 2024-06-13 | Date of first reported transaction: Sale of 688 shares at $21.79 |
| 2024-07-01 | Date of second reported transaction: Sale of 29,900 shares at $22.12 and 100 shares at $22.8 |
| 2024-07-03 | Date of Form 4 filing |
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