Form 4: IGM Biosciences CEO Fred Schwarzer Sells Shares to Cover Tax Obligations

IGM Biosciences CEO Fred Schwarzer sold 3,946 shares of common stock on September 13, 2024, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On September 13, 2024, Fred Schwarzer, CEO and President of IGM Biosciences, sold 3,946 shares of IGM Biosciences common stock.
• The sale was executed at a weighted average price of $11.5388 per share, with individual trades ranging from $11.20 to $11.795.
• The purpose of the sale was to cover tax withholding obligations associated with the vesting of restricted stock units.
• Following the transaction, Schwarzer directly owns 250,124 shares of IGM Biosciences common stock.
• Additionally, Schwarzer indirectly owns 196,718 shares through the Schwarzer Family Trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a routine stock sale for tax purposes. It doesn't convey any particularly positive or negative sentiment about the company's prospects.

Industry Context

This is a routine transaction for executives to cover tax obligations when stock options or restricted stock units vest. It doesn't necessarily indicate a change in the executive's confidence in the company.

Stakeholder Impact

• The sale of shares by the CEO could have a minor negative impact on shareholder sentiment, although it is a common practice.

Key Dates