Form 4: Immunovant's Chief Legal Officer Sells Shares to Cover Tax Obligations

Mark S. Levine, Chief Legal Officer of Immunovant, Inc., sold 3,242 shares of common stock to cover tax withholding obligations related to the vesting of restricted stock units.

Summary

• On May 22, 2024, Mark S. Levine, the Chief Legal Officer of Immunovant, Inc., sold 3,242 shares of Immunovant's common stock.
• The shares were sold at a weighted average price of $29.65 per share, with individual transactions ranging from $29.31 to $30.02 per share.
• This sale was to cover tax withholding obligations associated with the vesting of 7,051 restricted stock units (RSUs) on May 17, 2024, which were part of a grant of 112,816 RSUs on August 17, 2022.
• The sale was mandated by Immunovant's policy requiring tax obligations to be funded through a 'sell to cover' transaction.
• Following the transaction, Levine beneficially owns 339,914 shares of Immunovant common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, with no indication of 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.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.

Key Dates