Form 4: Precision BioSciences Executive Alan List Reports Stock Transactions
SEC Form 4
Alan List, Chief Medical Officer of Precision BioSciences, reports the vesting and sale of common stock to cover tax obligations.
Summary
- Alan List, the Chief Medical Officer of Precision BioSciences, filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- On May 1, 2024, 982 Restricted Stock Units (RSUs) vested and were settled.
- On May 2, 2024, 290 shares of common stock were sold at a weighted average price of $10.32 per share to cover tax withholding obligations related to the RSU vesting.
- The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 24, 2022.
- Following these transactions, List directly owns 4,488 shares of Precision BioSciences common stock and 981 Restricted Stock Units.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to stock vesting and tax obligations, without indicating any significant positive or negative outlook.
Positives
- The transactions were part of a pre-planned Rule 10b5-1 trading plan, suggesting they were not based on insider information.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and potential future performance.
Stakeholder Impact
- The transactions have a minimal impact on stakeholders as they are related to routine stock vesting and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 2022-03-03 | Reporting Person was granted RSUs, which vest in three substantially equal annual installments beginning on March 3, 2023 |
| 2022-03-24 | Rule 10b5-1 plan adopted |
| 2023-03-03 | First vesting date of RSUs |
| 2024-03-03 | Partial vesting of Restricted Stock Units |
| 2024-05-01 | Vesting and settlement of 982 RSUs |
| 2024-05-02 | Sale of 290 shares at an average price of $10.32 |
| 2024-05-03 | Date of Power of Attorney execution |
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