Form 4: Dexcom Executive Sadie Stern Disposes of Shares to Cover Tax Obligations and Under 10b5-1 Plan
SEC Form 4
Sadie Stern, EVP Chief Human Resources at Dexcom Inc., sold shares to cover tax obligations related to vesting RSUs and under a pre-arranged 10b5-1 trading plan.
Summary
- Sadie Stern, EVP Chief Human Resources at Dexcom Inc., reported the disposition of Dexcom common stock on March 12, 2024.
- A total of 18,321 shares were sold at prices ranging from $131.36 to $134.4107.
- 11,633 shares were sold to cover tax withholding obligations related to the vesting of Restricted Stock Units (RSUs).
- The remaining shares were sold under a pre-existing 10b5-1 trading plan adopted on December 15, 2022, and amended on December 12, 2023.
- Following the transactions, Stern beneficially owns 80,441 shares of Dexcom common stock, including 53,995 unvested restricted stock units.
Sentiment
Score: 5
Explanation: The document reflects routine transactions (tax obligation coverage and pre-planned sales), so it's neutral.
Industry Context
Executive stock sales are a common occurrence, and sales under 10b5-1 plans are generally viewed as less impactful since they are pre-arranged.
Stakeholder Impact
- The stock sales could have a minor negative impact on shareholder sentiment, but the impact is likely to be minimal due to the nature of the transactions.
Key Dates
| Date | Description |
|---|---|
| 2020-11-19 | Date of RSU grant that vests through November 19, 2024. |
| 2021-12-15 | Date of RSU grant that vests through December 15, 2024. |
| 2022-03-08 | Date of RSU grant that vests through March 8, 2025. |
| 2022-12-15 | Date Ms. Stern adopted a 10b5-1 Plan. |
| 2023-03-08 | Date of RSU grant that vests through March 8, 2026. |
| 2023-12-12 | Date Ms. Stern amended a 10b5-1 Plan. |
| 2024-03-08 | Date of RSU grant that vests through March 8, 2027. |
| 2024-03-12 | Date of stock sale transactions. |
| 2024-03-14 | Date of Form 4 filing. |
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