4/A: Dyne Therapeutics COO Corrects Stock Option Exercise and Share Sale Reporting
SEC Filing
Susanna Gatti High, Chief Operating Officer of Dyne Therapeutics, files an amended Form 4 to correct the number of stock options exercised and shares sold.
Summary
- Susanna Gatti High, the Chief Operating Officer of Dyne Therapeutics, filed an amended Form 4 (Form 4/A) with the SEC on July 3, 2024.
- This amendment corrects an error in the original Form 4 filed on June 24, 2024, regarding the number of stock options exercised and subsequent shares of common stock sold.
- The original filing inadvertently reported 10,163 stock options exercised and shares sold, while the corrected filing reports 10,213 shares.
- On June 21, 2024, High exercised 29,787 stock options at a price of $5.54 and sold the same amount of shares at a weighted average price of $35.01.
- On June 24, 2024, High exercised 10,213 stock options at a price of $5.54 and sold the same amount of shares at a weighted average price of $35.33.
- Following these transactions, High directly owns 148,792 shares of common stock and 60,486 stock options.
- The sales were executed under a Rule 10b5-1 trading plan adopted on March 11, 2024.
- High also holds 134,629 unvested Restricted Stock Units (RSUs).
Sentiment
Score: 6
Explanation: The document is a routine regulatory filing correcting a minor error. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.
Comparison to Industry Standards
- Executive compensation packages often include stock options and RSUs to align management's interests with those of shareholders.
- Rule 10b5-1 trading plans are a common tool used by insiders to sell shares in a pre-planned manner, avoiding accusations of insider trading.
- Companies like Sarepta Therapeutics and BioMarin Pharmaceutical also have executives who regularly file Form 4s related to stock option exercises and sales.
Key Dates
| Date | Description |
|---|---|
| 2020-07-31 | Date stock options were granted. |
| 2021-07-31 | 25% of stock options vested. |
| 2024-03-11 | Date the Rule 10b5-1 trading plan was adopted. |
| 2024-06-21 | Date of first reported transaction: exercise of 29,787 stock options and sale of 29,787 shares. |
| 2024-06-24 | Date of second reported transaction: exercise of 10,213 stock options and sale of 10,213 shares; also date of original Form 4 filing. |
| 2024-07-03 | Date of amended Form 4/A filing. |
| 2030-07-30 | Expiration date of stock options. |
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