Form 4: PepGen R&D Head Sells Shares for Tax Obligations

PepGen's EVP, Head of R&D, Paul Streck, sold 1,879 shares of common stock to cover tax withholding obligations related to RSU vesting.

Summary

• Paul Streck, Executive Vice President and Head of Research & Development at PepGen Inc., reported transactions involving the company's common stock.
• On March 4, 2026, Streck sold 1,832 shares of common stock at a price of $6.23 per share.
• On the same date, an additional 47 shares of common stock were sold at a price of $6.288 per share.
• These sales were mandatory 'sell-to-cover' transactions to satisfy minimum statutory tax withholding obligations upon the vesting and settlement of restricted stock units (RSUs).
• The transactions were executed pursuant to a binding contract under Rule 10b5-1(c) and do not represent discretionary trades by Mr. Streck.
• Following these transactions, Paul Streck beneficially owns 76,226 shares of PepGen Inc. common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. The reported transactions are mandatory 'sell-to-cover' sales for tax purposes upon RSU vesting, which are routine and non-discretionary, thus not indicating a change in management's sentiment or company fundamentals.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding PepGen Inc.'s future performance or strategic direction.

Management Comments

• The reported sales represent shares automatically sold by the Company on behalf of the Reporting Person pursuant to a mandatory sell-to-cover provision in the award agreement.
• These sales were required to cover minimum statutory tax withholding obligations that became due upon the vesting and settlement of restricted stock units ('RSUs').
• The mandatory sale was provided for in an RSU agreement constituting a 'binding contract' consistent with the affirmative defense to liability under Rule 10b5-1, and the sale does not represent a discretionary trade by the Reporting Person.

Industry Context

StockSavvy.ai notes that mandatory 'sell-to-cover' transactions are a common and routine occurrence for executives in publicly traded companies when equity awards, such as Restricted Stock Units (RSUs), vest. These sales are typically non-discretionary and are executed solely to satisfy tax obligations, distinguishing them from open-market sales that might signal a change in an insider's confidence in the company.

Related Party Transactions

• The transactions involve the sale of common stock by an executive officer (Paul Streck) to cover tax obligations arising from equity compensation (RSUs) granted by PepGen Inc.

Stakeholder Impact

• Shareholders: A minor reduction in the beneficial ownership of an executive, but generally not indicative of a change in company outlook due to the non-discretionary nature of the sale.
• Employees: The vesting of RSUs and subsequent tax-related sales are standard components of executive compensation packages.

Key Dates

Recommendation

The reported transaction is a mandatory sell-to-cover for tax obligations upon RSU vesting, not a discretionary sale. This type of insider transaction is routine and does not typically signal a change in management's confidence or the company's fundamentals, thus warranting a 'hold' recommendation based solely on this filing.

Keywords

PepGen, PEPG, Form 4, Insider Transaction, Stock Sale, RSU Vesting, Tax Withholding, Paul Streck