Form 4: Karyopharm Therapeutics CEO Richard Paulson Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Karyopharm Therapeutics CEO Richard Paulson sold shares of KPTI stock on February 29, 2024, and March 1, 2024, to cover withholding tax liabilities related to vesting restricted stock units.
Summary
- Richard A. Paulson, the President and CEO of Karyopharm Therapeutics Inc., sold 80,470 shares of common stock on February 29, 2024, at a weighted average price of $1.17.
- He also sold 19,374 shares on March 1, 2024, at a price of $1.2.
- These transactions were executed under a pre-arranged automatic sale instruction plan adopted on June 10, 2021.
- The sales were made to satisfy withholding tax liabilities incurred upon the vesting of restricted stock units and performance-based restricted stock units.
- Following these transactions, Paulson directly owns 1,164,409 shares of Karyopharm Therapeutics Inc.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the stock sales appear to be routine transactions to cover tax obligations and were pre-planned.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.
Key Dates
| Date | Description |
|---|---|
| June 10, 2021 | Date the reporting person adopted a durable automatic sale instruction plan |
| February 29, 2024 | Date of the first reported transaction: sale of 80,470 shares at $1.17 weighted average price |
| March 01, 2024 | Date of the second reported transaction: sale of 19,374 shares at $1.2 |
| March 04, 2024 | Date of the signature on 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.