Form 4: Immunovant Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Julia G. Butchko, Chief Development Officer of Immunovant, Inc., sold shares to cover tax withholding obligations related to the vesting of restricted stock units.
Summary
- On May 22, 2024, Julia G. Butchko, Chief Development Officer of Immunovant, Inc., sold 3,247 shares of common stock at a weighted average price of $29.65.
- The sale was to cover tax withholding obligations related to the vesting of 7,051 restricted stock units (RSUs) on May 17, 2024.
- These RSUs were part of a grant of 112,816 RSUs awarded on August 17, 2022.
- The sale was mandated by Immunovant's policy to cover tax obligations through a 'sell to cover' transaction.
- Following the transaction, Butchko directly owns 448,380 shares of Immunovant common stock.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction (sell to cover taxes) and doesn't indicate any significant positive or negative sentiment.
Industry Context
Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among company executives and employees.
Key Dates
| Date | Description |
|---|---|
| August 17, 2022 | Date of grant of 112,816 restricted stock units (RSUs). |
| May 17, 2024 | Date 7,051 RSUs vested. |
| May 22, 2024 | Date of sale of 3,247 shares of common stock. |
| May 24, 2024 | Date of signature on the Form 4 filing. |
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