Form 4: Edgewise Therapeutics Executive Sells Shares to Cover Tax Obligations
SEC Form 4
Behrad Derakhshan, Chief Business Officer of Edgewise Therapeutics, sold shares to cover statutory tax withholding obligations related to vesting Restricted Stock Units.
Summary
- On May 1, 2024, Behrad Derakhshan, Chief Business Officer of Edgewise Therapeutics, acquired 5,208 shares of common stock upon the vesting of Restricted Stock Units (RSUs).
- Also on May 1, 2024, Derakhshan disposed of 5,208 Restricted Stock Units.
- On May 2, 2024, Derakhshan sold 1,718 shares of common stock at an average price of $18.91 per share to cover statutory tax withholding obligations.
- Following these transactions, Derakhshan directly owns 13,422 shares of Edgewise Therapeutics common stock and 5,209 Restricted Stock Units.
Sentiment
Score: 5
Explanation: The document reflects routine transactions related to executive compensation and tax obligations, with no indication of unusual or concerning activity.
Industry Context
Executive stock sales are a common occurrence, particularly to cover tax obligations related to vesting equity awards. The sale itself doesn't necessarily indicate a negative outlook on the company.
Stakeholder Impact
- The sale of shares by an executive could have a minor, temporary impact on the stock price, but is unlikely to have a significant long-term effect.
Key Dates
| Date | Description |
|---|---|
| 05/15/2023 | Purchase of 1,304 shares pursuant to the Edgewise Therapeutics, Inc. 2021 Employee Stock Purchase Plan. |
| 11/15/2024 | Purchase of 1,608 shares pursuant to the Edgewise Therapeutics, Inc. 2021 Employee Stock Purchase Plan. |
| 05/01/2024 | Vesting of 5,208 Restricted Stock Units and acquisition of corresponding common stock. |
| 05/02/2024 | Sale of 1,718 shares to cover tax withholding obligations. |
| 05/03/2024 | Date of Form 4 signature. |
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