Form 4: Neuronetics CEO Keith J. Sullivan Sells Shares to Cover Tax Obligations

Neuronetics CEO Keith J. Sullivan sold a portion of his common stock holdings to satisfy tax withholding obligations related to the vesting of restricted stock units.

Summary

• Neuronetics CEO Keith J. Sullivan reported the sale of common stock in two transactions on July 16 and July 17, 2024.
• The sales were non-discretionary and intended to cover tax withholding obligations upon the vesting of restricted stock units.
• On July 16, 2024, 12,075 shares were sold at a weighted average price of $1.91 per share.
• On July 17, 2024, 11,687 shares were sold at a weighted average price of $1.97 per share.
• Following these transactions, Sullivan directly owns 1,348,516 shares of Neuronetics common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing simply reports stock sales for tax purposes, which is a routine event. It doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

Insider sales are a common occurrence, especially to cover tax obligations related to equity compensation. The market typically assesses the context and magnitude of such sales to gauge potential impact.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market, but the effect is likely minimal given the relatively small number of shares sold compared to the total outstanding.

Key Dates