Form 4: Myomo Inc. Executive Harry Kovelman Reports Stock Sale to Cover Tax Obligations

Harry Kovelman, Chief Medical Officer of Myomo, Inc., sold 121 shares of common stock on June 3, 2024, to cover income taxes resulting from the vesting of restricted stock units.

Summary

• On June 5, 2024, a Form 4 filing with the SEC was submitted by David A. Henry, Attorney-in-Fact, on behalf of Harry Kovelman, Chief Medical Officer of Myomo, Inc.
• The filing reports a transaction that occurred on June 3, 2024, where Kovelman sold 121 shares of Myomo's common stock at a price of $3.48 per share.
• This sale was executed to cover income taxes resulting from the vesting of restricted stock units on June 2, 2024.
• The transaction was completed according to an irrevocable election made by Kovelman in conjunction with the original grant in November 2020.
• Following the reported transaction, Kovelman beneficially owns 97,888 shares of Myomo's common stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a stock sale for tax purposes, which is neither particularly positive nor negative.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.

Stakeholder Impact

• The stock sale by an executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the small number of shares involved and the stated reason for the sale.

Key Dates