Form 4: KALA BIO CFO Mary Reumuth Sells Shares to Cover Tax Obligations

Mary Reumuth, CFO of KALA BIO, Inc., sold 1,786 shares of common stock on May 31, 2024, to cover tax withholding obligations related to vested restricted stock units.

Summary

• On May 31, 2024, Mary Reumuth, the Chief Financial Officer of KALA BIO, Inc., sold 1,786 shares of the company's common stock.
• The sale was executed at a weighted average price of $6.09 per share, with individual transactions ranging from $6.07 to $6.58.
• This transaction was conducted under a pre-arranged 10b5-1 trading plan adopted on November 9, 2020.
• The purpose of the sale was to cover tax withholding obligations associated with the vesting and settlement of restricted stock units (RSUs) granted on May 31, 2023.
• Following the reported transaction, Reumuth still beneficially owns 64,350 shares, which includes 56,177 unvested RSUs.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (stock sale for tax obligations) by a company insider, which is neither particularly positive nor negative.

Industry Context

Form 4 filings are routine disclosures required by the SEC when company insiders, like the CFO, trade their company's stock; this provides transparency to the market.

Stakeholder Impact

• The stock sale by the CFO could have a minor impact on shareholders due to the increased supply of shares, but the effect is likely minimal given the relatively small number of shares sold.

Key Dates