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

Neuronetics CEO Keith J. Sullivan sold 20,292 shares of common stock on February 26, 2024, to satisfy tax withholding obligations related to vesting restricted stock units.

Summary

• On February 26, 2024, Keith J. Sullivan, the President and CEO of Neuronetics, Inc., sold 20,292 shares of the company's common stock.
• The sale was executed to cover tax withholding obligations arising from the vesting of a portion of a restricted stock unit award.
• The shares were sold at a weighted average price of $3.3, with individual transactions ranging from $3.15 to $3.38 per share.
• Following the transaction, Sullivan directly owns 1,372,278 shares of Neuronetics common stock.

Sentiment

Score: 6

Explanation: The document describes a routine transaction (stock sale for tax obligations) by an executive, which is neither particularly positive nor negative. It's a neutral event in the context of the company's overall performance.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for them to sell a portion of their shares to cover the taxes due upon vesting.

Stakeholder Impact

• The sale of shares by the CEO could have a minor, temporary impact on the stock price, but is unlikely to have a significant long-term effect on shareholders.

Key Dates