Form 4: Fate Therapeutics Executive Sells Shares to Cover Tax Obligations

Jerome Charles Bressi, Chief Regulatory and Quality Officer of Fate Therapeutics, sold shares to cover tax withholding obligations related to vesting RSUs.

Summary

• On January 10, 2025, Jerome Charles Bressi, Chief Regulatory and Quality Officer of Fate Therapeutics, sold 5,980 shares of common stock.
• The sale was executed at a weighted average price ranging from $1.51 to $1.61 per share, with an average of $1.55.
• The shares were sold to cover tax withholding obligations related to the vesting of 2,188 shares of Common Stock underlying RSUs granted on January 20, 2021, and 6,660 shares of Common Stock underlying RSUs granted on January 25, 2022.
• The sales were made pursuant to an irrevocable election by the Reporting Person to satisfy tax withholding obligations through 'sell to cover' transactions and do not represent discretionary trades by the Reporting Person.
• Following the transaction, Bressi directly owns 270,203 shares of Fate Therapeutics common stock.

Sentiment

Score: 5

Explanation: This is a routine transaction to cover tax obligations, so it's neutral in sentiment.

Industry Context

Sales of shares to cover tax obligations upon vesting of restricted stock units (RSUs) are a common practice among corporate executives. This transaction reflects a standard procedure for managing personal tax liabilities associated with equity compensation.

Comparison to Industry Standards

• Similar 'sell to cover' transactions are frequently observed among executives at comparable biotechnology companies.
• These transactions are typically viewed as routine and do not necessarily indicate a change in the executive's long-term outlook on the company's prospects.
• Companies like Gilead Sciences, Amgen, and Biogen also see similar transactions by their executives.

Key Dates