Form 4: KALA BIO Executive Romulus Brazzell Sells Shares to Cover Tax Obligations

Romulus K. Brazzell, Head of Research and Development and Chief Medical Officer at KALA BIO, Inc., sold 2,002 shares of common stock on May 31, 2024, to cover tax withholding obligations related to vested restricted stock units.

Summary

• Romulus K. Brazzell, an executive at KALA BIO, Inc., sold 2,002 shares of common stock on May 31, 2024.
• The sale was executed at a weighted average price of $6.09 per share, with individual transactions ranging from $6.07 to $6.58.
• The 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, Brazzell beneficially owns 89,471 shares, which includes 75,743 unvested RSUs.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (stock sale to cover taxes) by an executive, with no indication of positive or negative sentiment.

Industry Context

Sales of shares by company insiders are a normal part of corporate governance. Often these sales are pre-planned to avoid any perception of insider trading. It is common for executives to sell shares to cover tax obligations.

Key Dates