Form 4: KALA BIO Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Darius Kharabi, Chief Business Officer of KALA BIO, Inc., sold 5,158 shares of common stock on June 26, 2024, to cover tax withholding obligations related to vested restricted stock units.
Summary
- Darius Kharabi, the Chief Business Officer of KALA BIO, Inc., reported a transaction involving the sale of company stock.
- On June 26, 2024, Kharabi sold 5,158 shares of common stock at a weighted average price of $4.75.
- The sale was executed under a pre-arranged 10b5-1 trading plan adopted on November 16, 2021, to cover tax obligations associated with the vesting of restricted stock units (RSUs) granted on June 22, 2023.
- Following the transaction, Kharabi beneficially owns 59,728 shares, which includes 37,574 unvested RSUs.
Sentiment
Score: 5
Explanation: The document describes a routine stock sale by an executive to cover tax obligations, which is neither particularly positive nor negative.
Industry Context
Executive stock sales are a common occurrence, often related to compensation and tax planning. The use of a 10b5-1 trading plan indicates a pre-arranged strategy to avoid accusations of insider trading.
Key Dates
| Date | Description |
|---|---|
| 2021-11-16 | Date the Reporting Person adopted a 10b5-1 trading plan |
| 2023-06-22 | Date of restricted stock units ('RSUs') granted to the Reporting Person |
| 2024-06-26 | Date of the stock sale transaction |
| 2024-06-27 | Date of the Form 4 filing |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.