Form 4: Exagen Inc. CFO Kamal Adawi Sells Shares to Cover Tax Obligations
SEC Form 4
Kamal Adawi, CFO of Exagen Inc., sold shares of common stock on March 4, 2024, to cover tax withholding obligations related to vesting restricted stock units.
Summary
- On March 4, 2024, Kamal Adawi, the CFO and Corporate Secretary of Exagen Inc., sold shares of the company's common stock.
- A total of 9,297 shares were sold at a price of $1.9089 per share.
- An additional 3,487 shares were sold at a price of $1.9099 per share.
- These sales were executed to generate proceeds to cover tax withholding obligations arising from the vesting of restricted stock units.
- The restricted stock units were granted on March 1, 2023, and February 23, 2021.
- Following these transactions, Adawi directly owns 243,749 shares of Exagen Inc.
Sentiment
Score: 5
Explanation: This is a neutral event; the CFO sold shares to cover tax obligations, which is a common practice.
Industry Context
This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders due to the increased supply of shares in the market, but the impact is likely to be insignificant.
Key Dates
| Date | Description |
|---|---|
| 02/23/2021 | Date of grant for certain restricted stock units. |
| 03/01/2023 | Date of grant for certain restricted stock units. |
| 03/04/2024 | Date of stock sale transactions. |
| 03/06/2024 | Date of signature on the Form 4 filing. |
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