Form 4: Pliant Therapeutics CEO Sells Shares to Cover Tax Obligations

Pliant Therapeutics CEO Bernard Coulie sold 38,710 shares of common stock on July 10, 2024, to cover withholding tax liabilities related to the vesting of performance-vested stock units.

Summary

• On July 10, 2024, Bernard Coulie, the President and CEO of Pliant Therapeutics, sold 38,710 shares of common stock at a price of $11.56 per share.
• The sale was executed to satisfy withholding tax obligations associated with the vesting of previously granted performance-vested stock units.
• The shares were sold in a non-discretionary transaction by the plan on behalf of Coulie, intended to comply with Rule 10b5-1.
• The sale price ranged from $10.785 to $12.58 between July 10 and July 11, 2024.
• Following the transaction, Coulie directly owns 482,936 shares of common stock and indirectly owns 409,317 shares through The Coulie/Leyman Family Trust.
• Coulie disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing simply reports a stock sale for tax purposes, which is a routine event. There is no indication of positive or negative implications for the company's performance.

Industry Context

Executive stock sales are a common occurrence, often related to compensation and tax planning. The use of Rule 10b5-1 plans is a standard practice to avoid accusations of insider trading.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders due to the increased supply of shares in the market, but the effect is likely to be minimal given the relatively small number of shares sold.

Key Dates