Form 4: Orchestra BioMed Holdings Officer Sells Shares to Cover Tax Obligations

Darren Sherman, President and COO of Orchestra BioMed Holdings, sold shares of common stock on September 9th and 10th, 2024, to cover tax obligations associated with the vesting of restricted stock units.

Summary

• Darren Sherman, President and COO of Orchestra BioMed Holdings, sold shares of common stock on September 9th and 10th, 2024.
• The sales were executed to cover tax obligations related to the vesting of restricted stock units (RSUs) granted on July 20, 2023.
• On September 9, 2024, 6,804 shares were sold at a weighted average price of $5.48, with individual prices ranging from $5.38 to $5.57.
• On September 10, 2024, 6,904 shares were sold at a weighted average price of $5.31, with individual prices ranging from $5.13 to $5.69.
• Following these transactions, Sherman directly owns 765,787 shares of Orchestra BioMed Holdings common stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about insider trading activity.

Industry Context

Form 4 filings are a routine part of the US stock market, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Stakeholder Impact

• The sale of shares by an officer could have a minor, short-term impact on the stock price, but is unlikely to have a significant long-term effect on shareholders, employees, customers, suppliers, or creditors.

Key Dates