Form 4: DURECT Corp CEO James E. Brown Reports Gift of 56,000 Shares
SEC Form 4 Filing
DURECT Corporation's CEO, James E. Brown, reported a gift of 56,000 common stock shares and updated his beneficial ownership.
Summary
- On June 12, 2023, James E. Brown, the President and CEO of DURECT Corporation, filed a Form 4.
- The report details a transaction where 56,000 shares of common stock were disposed of as a gift.
- Following the transaction, Brown directly owns 176,453 shares of DURECT Corp common stock.
- Brown also indirectly owns 8,000 shares through the Brown 2006 Trust and 56,000 shares through the James and Karen Brown 1998 Trust.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of compliance for corporate insiders and provide transparency into their transactions in the company's stock.
Stakeholder Impact
- The transaction may have a minor impact on shareholders by slightly diluting the ownership base.
- The gift of shares does not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 04/01/1998 | Date of the James and Karen Brown 1998 Trust U/A |
| 05/10/2006 | Date of the Brown Family Trust |
| 06/12/2023 | Date of the transaction (gift of shares) |
| 08/05/2024 | Date of signature for the Form 4 filing |
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