Form 4: Outset Medical CEO Leslie Trigg Sells Shares to Cover Tax Obligations

Outset Medical's CEO, Leslie Trigg, sold shares to cover tax withholding obligations related to the vesting of restricted stock units.

Summary

• On May 16, 2024, Leslie Trigg, CEO of Outset Medical, sold 5,237 shares of common stock at a price of $3.53 per share.
• The sale was executed to cover tax withholding obligations associated with the vesting of 14,739 shares of common stock underlying RSUs granted on March 15, 2021, January 26, 2022, and January 6, 2023.
• This transaction was a 'sell to cover' transaction and not a discretionary trade.
• Following the transaction, Trigg directly owns 915,804 shares and indirectly owns 8,770 shares through the Trigg Family Trust.
• Trigg also acquired 1,801 shares of Common Stock pursuant to the Outset Medical, Inc. 2020 Employee Stock Purchase Plan ('ESPP'), for the purchase period of September 1, 2023 to February 29, 2024.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sell to cover) and acquisition of shares through ESPP, indicating a neutral sentiment.

Positives

• The CEO's acquisition of 1,801 shares through the Employee Stock Purchase Plan (ESPP) indicates confidence in the company's future.

Industry Context

Sales to cover taxes on vesting shares are a routine part of executive compensation and are not necessarily indicative of the executive's long-term view of the company.

Stakeholder Impact

• The sale of shares could have a minor negative impact on shareholder sentiment, although it is a routine transaction.
• The acquisition of shares through the ESPP could have a minor positive impact on shareholder sentiment.

Key Dates