Form 4: Illumina Executive Kevin Pegels Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Kevin Pegels, Chief of Global Operations at Illumina, reports a transaction involving common stock due to tax withholding upon vesting of restricted stock units.
Summary
- Kevin Pegels, Chief of Global Operations at Illumina, filed a Form 4 detailing changes in his beneficial ownership of Illumina stock.
- On November 5, 2024, 699 shares of common stock were disposed of at a price of $154.96 per share to cover tax obligations.
- Following the transaction, Pegels directly owns 16,357 shares of Illumina common stock.
- Additionally, Pegels's unvested RSUs were increased by 210 units due to the spin-out of Grail, Inc. on June 24, 2024, as per Illumina's Amended and Restated 2015 Stock and Incentive Plan.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies like Illumina. It provides transparency into the transactions of company insiders.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it is a routine sale of shares for tax purposes by an executive.
Key Dates
| Date | Description |
|---|---|
| June 24, 2024 | Completion date of Illumina's spin-out of Grail, Inc. |
| November 05, 2024 | Date of the stock transaction (disposal of shares). |
| November 07, 2024 | Date of Form 4 filing. |
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