Form 4: Phathom Pharmaceuticals COO Azmi Nabulsi Reports Stock Sale to Cover Tax Obligations

Azmi Nabulsi, Chief Operating Officer of Phathom Pharmaceuticals, sold 10,901 shares of common stock on July 15, 2024, to cover tax withholding obligations related to the settlement of restricted stock units.

Summary

• On July 15, 2024, Azmi Nabulsi, the Chief Operating Officer of Phathom Pharmaceuticals, sold 10,901 shares of common stock.
• The sale was executed at a price of $11.72 per share.
• This transaction was done to satisfy tax withholding obligations upon the settlement of restricted stock units.
• Following the transaction, Nabulsi directly owns 240,421 shares of Phathom Pharmaceuticals.
• Nabulsi also indirectly owns 3,578.93 shares through a 401(k) and 785,700 shares through a trust.

Sentiment

Score: 6

Explanation: Neutral sentiment as it reflects a routine transaction for tax purposes. It doesn't necessarily indicate a positive or negative outlook for 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 related to stock-based compensation.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their executives.
• The sale of shares to cover tax obligations is a common occurrence among executives receiving stock-based compensation.
• Comparable companies like AstraZeneca, Takeda, and Pfizer also have executives who regularly file Form 4s for similar transactions.

Stakeholder Impact

• The sale of shares by an executive could be perceived negatively by some shareholders, although it is a common practice for covering tax obligations.

Key Dates