Form 4: Outset Medical CEO Sells Shares for Tax Withholding

Outset Medical's Chair and CEO, Leslie Trigg, sold 1,795 shares of common stock to cover tax withholding obligations related to vested performance stock units.

Summary

• Leslie Trigg, the Chair and CEO of Outset Medical, Inc. (OM), reported a transaction involving the sale of common stock.
• On January 7, 2026, Trigg disposed of 1,795 shares of Outset Medical Common Stock at a price of $4.27 per share.
• This sale was a 'sell to cover' transaction, specifically to satisfy tax withholding obligations associated with the vesting of 4,904 performance stock units (PSUs).
• The PSUs were earned based on the achievement of applicable performance criteria as of December 31, 2024, or January 6, 2025, and were certified by the Compensation Committee on January 17, 2025.
• The PSUs vested and were released on January 6, 2025.
• Following this transaction, Leslie Trigg directly beneficially owns 119,617 shares of Common Stock.
• Additionally, Trigg indirectly beneficially owns 41,666 shares through the Trigg 2002 Rev Trust and 584 shares through the Trigg Family Trust.

Sentiment

Score: 6

Explanation: The transaction is a non-discretionary 'sell to cover' for tax purposes, which is generally neutral. However, the underlying vesting of PSUs indicates that performance criteria were met, which is a positive for the company.

Positives

• The underlying performance stock units (PSUs) were earned based on the achievement of applicable performance criteria, indicating the company met certain performance goals.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategy.

Management Comments

• The sale was made to satisfy tax withholding obligations through a 'sell to cover' transaction and does not represent a discretionary trade by the reporting person.

Industry Context

This Form 4 filing details a routine insider transaction for tax purposes and does not provide information relevant to broader industry trends or competitive analysis.

Stakeholder Impact

• Shareholders: Minimal direct impact as the sale is non-discretionary and for tax purposes, not indicative of management's view on future stock performance.
• Employees: No direct impact mentioned.

Key Dates

Recommendation

This Form 4 filing reports a routine 'sell to cover' transaction by the CEO to satisfy tax obligations upon the vesting of performance stock units. Such non-discretionary sales are not typically indicative of management's sentiment towards the company's future prospects and therefore do not warrant a change in investment recommendation based solely on this filing. The underlying vesting of PSUs suggests performance targets were met, which is a positive, but the sale itself is a neutral event for investment decisions.

Keywords

Outset Medical, OM, Leslie Trigg, Form 4, Insider Transaction, Stock Sale, CEO, Director, Performance Stock Units, Tax Withholding, Sell to Cover