Form 4: Protara Therapeutics CEO Sells Shares to Cover Tax Obligations
SEC Form 4
Protara Therapeutics CEO Jesse Shefferman sold 6,479 shares of common stock to cover income tax obligations related to a vesting restricted stock unit.
Summary
- Protara Therapeutics CEO Jesse Shefferman sold 6,479 shares of common stock on January 3, 2025.
- The sale was executed at a price of $6.14 per share.
- This transaction was to cover income tax obligations associated with the vesting of a restricted stock unit award granted to Mr. Shefferman on January 3, 2022.
- Following the transaction, Mr. Shefferman directly owns 929,022 shares of Protara Therapeutics common stock.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment.
Industry Context
This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax liabilities when restricted stock units vest.
Comparison to Industry Standards
- Executive stock sales to cover tax obligations are a common practice across the industry.
- Many companies use restricted stock units as part of their executive compensation packages, leading to similar tax-related sales.
- The number of shares sold and the price are specific to Protara Therapeutics and its executive compensation plan.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 01/03/2022 | Date of the restricted stock unit award grant to Jesse Shefferman. |
| 01/03/2025 | Date of the stock sale by Jesse Shefferman to cover tax obligations. |
| 01/07/2025 | Date of signature of the SEC Form 4. |
Keywords
Protara Therapeutics, Jesse Shefferman, stock sale, insider trading, restricted stock unit, tax obligations
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