Form 4: Pacific Biosciences Officer Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Michele Farmer, Chief Accounting Officer of Pacific Biosciences, sold shares to cover tax withholding obligations related to vesting restricted stock units.
Summary
- On March 4, 2024, Michele Farmer, the Chief Accounting Officer of Pacific Biosciences, sold 2,968 shares of common stock at a weighted average price of $4.871 per share.
- The sale was to cover tax withholding obligations related to the vesting of restricted stock units.
- Following the transaction, Farmer beneficially owns 217,216 shares of Pacific Biosciences common stock, which includes 3,636 shares purchased on March 1, 2024, under the company's 2010 Employee Stock Purchase Plan.
Sentiment
Score: 5
Explanation: This is a neutral event. The sale is related to tax obligations and doesn't necessarily reflect a negative outlook on the company.
Industry Context
This is a routine Form 4 filing, indicating insider trading activity. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.
Stakeholder Impact
- The sale of shares by an officer could have a minor, temporary impact on the stock price.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Michele Farmer purchased 3,636 shares under the Company's 2010 Employee Stock Purchase Plan. |
| 03/04/2024 | Michele Farmer sold 2,968 shares of common stock to cover tax withholding obligations. |
| 03/06/2024 | Date of Form 4 signature. |
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