Form 4: Protara Therapeutics CEO Sells Shares to Cover Tax Obligations
SEC Form 4
Protara Therapeutics CEO Jesse Shefferman sold 15,469 shares of common stock on January 21, 2025, to cover income tax obligations related to vesting restricted stock units.
Summary
- On January 21, 2025, Jesse Shefferman, CEO and President of Protara Therapeutics, Inc., disposed of 15,469 shares of common stock.
- The transaction was executed to satisfy income tax obligations associated with the vesting of Restricted Stock Unit Awards granted on January 19, 2023, and January 19, 2024.
- The shares were sold at a price of $4.76 per share.
- Following the transaction, Shefferman directly owns 913,553 shares of Protara Therapeutics, Inc.
Sentiment
Score: 6
Explanation: The document describes a routine transaction (selling shares to cover taxes on vested stock). It's neutral to slightly positive as it reflects compensation being realized.
Industry Context
Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among company executives and do not necessarily indicate a negative outlook on the company's future.
Stakeholder Impact
- The sale of shares by the CEO could have a minor, temporary impact on the stock price, but is unlikely to have a significant long-term effect.
Key Dates
| Date | Description |
|---|---|
| 01/19/2023 | Date of Restricted Stock Unit Awards grant to the Reporting Person |
| 01/19/2024 | Date of Restricted Stock Unit Awards grant to the Reporting Person |
| 01/21/2025 | Date of transaction: sale of common stock to cover tax obligations |
| 01/23/2025 | Date of signature for the Form 4 filing |
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