Form 4: Immunovant's Chief Legal Officer Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Mark S. Levine, Chief Legal Officer of Immunovant, Inc., sold shares of common stock to cover tax withholding obligations related to the vesting of restricted stock units.
Summary
- On April 17, 2024, Mark S. Levine, the Chief Legal Officer of Immunovant, Inc., sold 7,602 shares of common stock at a weighted average price of $28.8 per share.
- He also sold 2,225 shares of common stock at a weighted average price of $29.94 per share.
- These sales were to cover tax withholding obligations related to the vesting of 21,916 restricted stock units (RSUs) on April 12, 2024.
- The sales were mandated by Immunovant's policy requiring tax obligations to be funded by a 'sell to cover' transaction and do not represent a discretionary transaction by Levine.
- Following these transactions, Levine beneficially owns 347,119 shares of Immunovant common stock.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction (sell to cover) 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 |
|---|---|
| April 12, 2023 | Holder was granted 87,664 restricted stock units |
| April 12, 2024 | 21,916 of the restricted stock units vested |
| April 17, 2024 | Mark S. Levine sold shares of common stock to cover tax withholding obligations |
| April 19, 2024 | Date of Form 4 filing |
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