Form 4: KALA BIO, Inc. Officer Bazemore Sells Shares to Cover Tax Obligations
SEC Form 4
Todd Bazemore, President and COO of KALA BIO, Inc., sold 2,093 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, Todd Bazemore, President and Chief Operating Officer of KALA BIO, Inc., sold 2,093 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.
- The transaction was made pursuant to a 10b5-1 trading plan adopted on November 10, 2020, to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs) granted on May 31, 2023.
- Following the reported transaction, Bazemore beneficially owns 87,693 shares, including 76,887 unvested RSUs.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transaction is a routine sale of shares by an officer to cover tax obligations under a pre-existing trading plan.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders, such as officers and directors, trade their company's stock. These filings provide transparency into insider transactions and are closely monitored by investors.
Key Dates
| Date | Description |
|---|---|
| 2020-11-10 | Date the Reporting Person adopted a 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 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.