Form 4: Fulgent Genetics CEO Ming Hsieh Reports Stock Transaction
SEC Form 4 Filing
Fulgent Genetics CEO Ming Hsieh reports the withholding of shares to cover tax obligations and details beneficial ownership through various trusts and custodial accounts.
Summary
- On May 1, 2024, Ming Hsieh, CEO of Fulgent Genetics, had 1,337 shares of common stock withheld to satisfy tax obligations related to vesting restricted stock units.
- The shares were withheld at a price of $20.7 per share.
- Following the transaction, Hsieh directly owns 713,036 shares of Fulgent Genetics.
- Hsieh also indirectly owns 220,816 shares through the Dynasty Trust, where he serves on the investment committee.
- Additionally, he indirectly owns 7,895,115 shares through The Ming Hsieh Trust, where he is the trustee.
- Hsieh also holds 1,000 shares each in two Uniform Transfers to Minors Act accounts as custodian.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing a routine stock transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC when company insiders, like the CEO, engage in transactions involving the company's stock. It provides transparency to investors regarding the holdings and transactions of key individuals within the company.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine withholding of shares for tax purposes and does not represent a significant change in the CEO's overall holdings.
Key Dates
| Date | Description |
|---|---|
| 08/01/2022 | Date of restricted stock units grant to Ming Hsieh. |
| 08/03/2022 | Date Form 4 was filed with the SEC reporting the restricted stock units grant. |
| 05/01/2024 | Date of stock transaction (shares withheld for tax obligations). |
| 05/03/2024 | Date of signature on the Form 4 filing. |
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