Form 4: Kala Bio Executive Sells Shares to Cover Tax Obligations
SEC Form 4
Darius Kharabi, Chief Business Officer of Kala Bio, sold 231 shares of common stock at an average price of $6.09 to cover tax withholding obligations related to vested restricted stock units.
Summary
- On May 31, 2024, Darius Kharabi, the Chief Business Officer of Kala Bio, Inc., sold 231 shares of 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 16, 2021.
- 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 transaction, Kharabi beneficially owns 64,886 shares, which includes 49,855 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
Sales of shares by company executives are a normal part of corporate governance. Often these sales are pre-planned to avoid any accusations of insider trading.
Key Dates
| Date | Description |
|---|---|
| 2021-11-16 | Date of adoption of the 10b5-1 trading plan. |
| 2023-05-31 | Date of grant of restricted stock units (RSUs). |
| 2024-05-31 | Date of the stock sale transaction. |
| 2024-06-03 | Date of signature of the Form 4 filing. |
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