Form 4: Edgewise Therapeutics CFO R. Michael Carruthers Executes Stock Option and Sells Shares
SEC Form 4
R. Michael Carruthers, CFO of Edgewise Therapeutics, exercised stock options and sold shares on September 20, 2024, according to a Form 4 filing.
Summary
- On September 20, 2024, R. Michael Carruthers, the Chief Financial Officer of Edgewise Therapeutics, exercised stock options to acquire 96,068 shares of common stock at a price of $1.93 per share.
- Carruthers then sold 125,032 shares of common stock at an average price of $28.5862 per share.
- Following these transactions, Carruthers directly owns 6,904 shares of common stock.
- Carruthers also owns 40,990 derivative securities.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of insider transactions. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, which are common in publicly traded companies. Investors often monitor these filings for insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their insiders, as mandated by the SEC.
- The transactions are similar to those of executives at comparable biotech firms, such as Sarepta Therapeutics or BioMarin Pharmaceutical, who regularly exercise options and sell shares.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 01/03/2021 | 1/48th of the shares subject to the option vest each month beginning on this date. |
| 11/15/2023 | 2,898 shares purchased on November 15, 2023 pursuant to the ESPP were properly reported on a Form 4 filed June 26, 2023 but erroneously added again to the balance reported on a Form 4 filed May 3, 2024. |
| 05/15/2024 | 3,596 shares purchased on May 15, 2024 pursuant to the Edgewise Therapeutics, Inc. 2021 Employee Stock Purchase Plan (the 'ESPP'). |
| 09/20/2024 | Date of the transactions: exercise of stock options and sale of shares. |
| 09/24/2024 | Date of Form 4 filing. |
| 12/15/2030 | Expiration date of the stock options. |
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