Form 4: Ginkgo Bioworks Executive Sells Shares to Cover Tax Obligations After RSU Vesting
SEC Form 4 Filing
Ginkgo Bioworks' Chief Accounting Officer, Steven P. Coen, sold 330 shares of Class A Common Stock to cover tax obligations following the vesting of restricted stock units.
Summary
- Steven P. Coen, Chief Accounting Officer at Ginkgo Bioworks, engaged in transactions involving the company's Class A Common Stock.
- On December 3, 2024, Coen acquired 587 shares and 156 shares of Class A Common Stock through the vesting of restricted stock units (RSUs).
- Also on December 3, 2024, Coen acquired 587 and 156 restricted stock units.
- On December 4, 2024, Coen sold 330 shares of Class A Common Stock at a price of $9.644 per share.
- The sale of shares was to cover tax withholding obligations related to the vesting of the RSUs.
- Following these transactions, Coen directly owns 6,869 shares of Class A Common Stock and 17,036 and 6,095 restricted stock units.
Sentiment
Score: 5
Explanation: The document reflects routine insider transactions related to RSU vesting and tax obligations, which is neither positive nor negative for the company's outlook.
Industry Context
This is a routine filing related to insider transactions, specifically the vesting of restricted stock units and the subsequent sale of shares to cover tax obligations. Such transactions are common among executives of publicly traded companies.
Comparison to Industry Standards
- The vesting of restricted stock units and subsequent sales to cover taxes are standard practices in publicly traded companies.
- Many companies use RSUs as part of their compensation packages, and executives often sell shares to cover tax liabilities upon vesting.
- The sale of 330 shares is a relatively small transaction compared to the total number of shares outstanding for Ginkgo Bioworks.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are routine and do not indicate a change in the company's fundamentals.
Key Dates
| Date | Description |
|---|---|
| 12/03/2024 | Date of RSU vesting and acquisition of Class A Common Stock. |
| 12/04/2024 | Date of sale of Class A Common Stock to cover tax obligations. |
| 12/05/2024 | Date of filing of the SEC Form 4. |
Keywords
Ginkgo Bioworks, Steven P. Coen, Class A Common Stock, Restricted Stock Units, RSU, Tax Withholding, SEC Form 4, Insider Trading
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