Form 4: Pliant Therapeutics CFO Keith Cummings Sells Shares to Cover Tax Obligations

Keith Lamont Cummings, CFO of Pliant Therapeutics, sold 10,911 shares of common stock on July 10, 2024, to cover withholding tax obligations related to vesting stock units.

Summary

• On July 10, 2024, Keith Lamont Cummings, the Chief Financial Officer of Pliant Therapeutics, sold 10,911 shares of the company's common stock.
• The sale was executed at a price of $11.56 per share.
• This transaction was conducted to satisfy withholding tax liabilities associated with the vesting of previously granted performance-vested stock units.
• The sale was part of a nondiscretionary plan under Rule 10b5-1.
• Following the transaction, Cummings directly owns 282,115 shares of Pliant Therapeutics.
• The shares were sold at prices ranging from $10.785 to $12.58 between July 10, 2024, and July 11, 2024.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sale of shares to cover tax obligations) and does not contain any information that would significantly impact investor sentiment positively or negatively.

Industry Context

Sales of shares to cover tax obligations upon vesting of stock options or restricted stock units are a common practice among corporate executives. These sales are often pre-planned under Rule 10b5-1 to avoid accusations of insider trading.

Stakeholder Impact

• The sale of shares by an executive could be perceived negatively by some shareholders, but the impact is likely minimal given the reason for the sale (tax obligations) and the relatively small number of shares involved.

Key Dates