Form 4: Igor Bilinsky, Chief Operating Officer of Iovance Biotherapeutics, Reports Transaction in Company Stock
SEC Form 4 Filing
Igor Bilinsky, COO of Iovance Biotherapeutics, reports the vesting of restricted stock units and subsequent withholding of shares for tax obligations.
Summary
- On March 4, 2024, Igor Bilinsky, the Chief Operating Officer of Iovance Biotherapeutics, had 14,061 restricted stock units (RSUs) vest.
- Upon vesting, 7,287 shares were withheld by the issuer to satisfy mandatory tax withholding requirements at a price of $16.96 per share.
- Bilinsky now beneficially owns 36,641 shares of common stock following the transaction.
- After the transaction, Bilinsky holds 28,129 remaining restricted stock units which will vest in equal quarterly installments.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and doesn't inherently indicate positive or negative sentiment. It's a neutral event.
Future Outlook
The remaining RSUs will vest in equal quarterly installments.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, which is important for maintaining market confidence.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the vesting of previously granted equity compensation.
- Employees may be interested in the details of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 03/02/2023 | Date of grant for the remaining RSUs held by the Reporting Person. |
| 03/04/2024 | Date of transaction: vesting of restricted stock units and withholding of shares for taxes. |
| 03/06/2024 | Date of signature for the Form 4 filing. |
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