Form 4: Pacific Biosciences COO Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Mark Van Oene, COO of Pacific Biosciences, sold shares to cover tax withholding obligations related to vesting restricted stock units.
Summary
- On March 4, 2024, Mark Van Oene, the Chief Operating Officer of Pacific Biosciences, sold 9,186 shares of common stock.
- The sale was executed to cover tax withholding obligations associated with the vesting of restricted stock units.
- The shares were sold at a weighted average price of $4.871, with individual prices ranging from $4.72 to $5.22 per share.
- Following the transaction, Van Oene still beneficially owns 1,668,826 shares of Pacific Biosciences stock, which includes 3,325 shares purchased on March 1, 2024, under the company's 2010 Employee Stock Purchase Plan.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The transaction is a routine sale of shares to cover tax obligations, which is a common practice. There is no indication of a change in the executive's overall confidence in the company.
Industry Context
Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among corporate executives and do not necessarily indicate a negative outlook on the company's future.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | 3,325 shares purchased under the Company's 2010 Employee Stock Purchase Plan. |
| 03/04/2024 | Date of stock sale transaction. |
| 03/06/2024 | Date of signature on the Form 4 filing. |
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