Form 4: Monopar Therapeutics COO Andrew Cittadine Reports Stock Transactions
SEC Form 4 Filing
Andrew Cittadine, Chief Operating Officer of Monopar Therapeutics, reports the acquisition and disposal of common stock related to the vesting of restricted stock units.
Summary
- On June 30, 2024, Andrew Cittadine, the Chief Operating Officer of Monopar Therapeutics, engaged in transactions involving the company's common stock.
- He acquired 8,952 shares of common stock through the vesting and settlement of restricted stock units.
- Simultaneously, he disposed of 2,019 shares to cover withholding taxes at a price of $0.731 per share.
- Following these transactions, Cittadine directly owns 193,065 shares of Monopar Therapeutics common stock.
- The restricted stock units were granted on February 2, 2022 (65,000 units) and February 1, 2023 (78,234 units), vesting in installments until December 31, 2025 and December 31, 2026 respectively.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing related to stock vesting and tax obligations. There's no indication of unusual activity or concern.
Positives
- The vesting of restricted stock units suggests that the COO is meeting performance milestones.
Industry Context
Form 4 filings are standard practice for company insiders and provide transparency regarding their trading activities in the company's stock.
Comparison to Industry Standards
- Similar to other small-cap biotech companies, Monopar uses restricted stock units as part of its compensation package to align management's interests with those of shareholders.
- The vesting schedules are typical, with gradual vesting over several years.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the standard compensation practices of the company.
Key Dates
| Date | Description |
|---|---|
| February 2, 2022 | Reporting person was granted 65,000 restricted stock units, vesting 6/48ths (8,125 shares) on June 30, 2022, and 3/48ths (4,063 shares) every 3 months thereafter until the RSU is fully vested on December 31, 2025. |
| February 1, 2023 | Reporting person was granted 78,234 restricted stock units, vesting 6/48ths (9,779 shares) on June 30, 2023, and 3/48ths (4,890 shares) every 3 months thereafter until the RSU is fully vested on December 31, 2026. |
| 06/30/2024 | Shares acquired on vesting and settlement of restricted stock units. |
| 06/30/2024 | Shares withheld by the issuer to pay for the applicable withholding tax due upon vesting of restricted stock units. |
| 07/02/2024 | Date of signature for the Form 4 filing. |
| December 31, 2025 | Date when the 65,000 restricted stock units granted on February 2, 2022 are fully vested. |
| December 31, 2026 | Date when the 78,234 restricted stock units granted on February 1, 2023 are fully vested. |
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