Form 4: KalVista Pharmaceuticals CEO Benjamin Palleiko Reports Stock Transactions
SEC Form 4
CEO Benjamin Palleiko reports acquisition and disposal of KalVista Pharmaceuticals stock, including sales to cover tax obligations related to vesting of restricted stock units and performance stock units.
Summary
- On May 17, 2024, Benjamin L. Palleiko, CEO of KalVista Pharmaceuticals, acquired 51,031 shares of common stock.
- These shares were acquired through the vesting of restricted stock units (RSUs) and performance stock units (PSUs).
- On May 20, 2024, Palleiko sold 21,959 shares of common stock at a weighted average price of $11.7645 per share.
- The sale was to cover tax withholding obligations related to the vesting of RSUs and PSUs.
- Following these transactions, Palleiko directly owns 216,387 shares of KalVista Pharmaceuticals common stock.
- Palleiko also holds 19,350 restricted stock units, 41,667 restricted stock units, 41,667 performance stock units, and 0 performance stock units.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock transactions by the CEO. It doesn't inherently indicate positive or negative sentiment, as the sales are primarily to cover tax obligations.
Industry Context
Form 4 filings are a routine part of the US stock market and are required by the SEC to provide transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the CEO's holdings.
- The sale of shares to cover tax obligations does not represent a discretionary transaction by the Reporting Person.
Key Dates
| Date | Description |
|---|---|
| 08/17/2022 | Vesting Commencement Date for 1/16th of total shares subject to RSU. |
| 11/17/2022 | Vesting Commencement Date for 1/12th of total shares subject to RSU. |
| 06/08/2023 | Date of PSU grant to the Reporting Person. |
| 08/17/2023 | Vesting Commencement Date for 1/4th of total shares subject to PSU granted on June 8, 2023. |
| 01/10/2024 | Date of PSU grant to the Reporting Person. |
| 02/17/2024 | Vesting Commencement Date for 1/4th of total shares subject to PSU granted on January 10, 2024. |
| 05/17/2024 | Date of transaction involving acquisition of shares through vesting of RSUs and PSUs. |
| 05/20/2024 | Date of transaction involving sale of shares to cover tax obligations. |
| 05/21/2024 | Date of signature on the Form 4 filing. |
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