Form 4: Inari Medical CEO Andrew Hykes Reports Changes in Beneficial Ownership

Andrew Hykes, President and CEO of Inari Medical, reports changes in beneficial ownership due to tax obligations related to vesting restricted share units.

Summary

• Andrew Hykes, the President and CEO of Inari Medical, Inc., filed a Form 4 with the SEC on October 3, 2024.
• The filing reports changes in his beneficial ownership of Inari Medical's common stock due to the satisfaction of tax obligations related to the vesting of restricted share units.
• Specifically, Inari Medical retained shares of common stock to cover Hykes' tax obligations in connection with restricted share units awarded in 2021, 2022, 2023 and 2024.
• The transactions occurred on October 1, 2024, with a price of $40.63 per share.
• A total of 4,224 shares were disposed of to cover these tax obligations.
• Following these transactions, Hykes directly owns 448,310 shares of Inari Medical common stock.
• He also indirectly owns 1,550 shares through Child 1, 1,550 shares through Child 2, 1,550 shares through Child 3, and 1,000 shares through his spouse.

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 towards the company's prospects.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard tax-related transactions and doesn't necessarily reflect a change in the executive's long-term outlook on the company.

Comparison to Industry Standards

• Form 4 filings are standard practice across publicly traded companies, including Inari Medical's competitors in the medical device industry such as Penumbra, Boston Scientific, and Medtronic.
• Executives at these companies also routinely file Form 4s to report transactions related to stock options, restricted stock units, and other forms of equity compensation.
• The specifics of these transactions (e.g., number of shares, price, type of transaction) vary depending on the individual's compensation package and tax situation.

Stakeholder Impact

• The transactions have a minimal impact on shareholders, as they are related to tax obligations and do not represent a significant change in the CEO's overall holdings.

Key Dates