Form 4: Iovance Biotherapeutics Executive Friedrich Graf Finckenstein Reports Stock Transactions
SEC Form 4 Filing
Friedrich Graf Finckenstein, Chief Medical Officer of Iovance Biotherapeutics, reports the vesting of restricted stock units and subsequent withholding of shares for tax obligations.
Summary
- On June 3, 2024, Friedrich Graf Finckenstein, the Chief Medical Officer of Iovance Biotherapeutics, had 3,906 restricted stock units (RSUs) vest.
- The company withheld 1,982 shares to satisfy tax obligations at a price of $8.37 per share.
- Following these transactions, Graf Finckenstein directly owns 44,486 shares of common stock and 27,346 restricted stock units.
- The remaining RSUs will vest in equal quarterly installments.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard compensation practices; it doesn't inherently indicate positive or negative sentiment.
Future Outlook
The remaining RSUs will vest in equal quarterly installments.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.
Stakeholder Impact
- The transactions reported in this filing provide transparency to shareholders regarding the holdings and transactions of a key executive.
Key Dates
| Date | Description |
|---|---|
| March 2, 2023 | Date of grant for the remaining RSUs held by the Reporting Person. |
| June 3, 2024 | Date of transaction: vesting of 3,906 restricted stock units and withholding of shares for tax obligations. |
| June 5, 2024 | Date of signature for the Form 4 filing. |
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