Form 4: PTC Therapeutics Exec VP Sells Shares to Cover Tax Obligations
SEC Form 4
Mark Elliott Boulding, Executive VP and CLO of PTC Therapeutics, sold shares of common stock to cover tax withholding obligations related to vesting restricted stock units (RSUs).
Summary
- Mark Elliott Boulding, an Executive VP and CLO at PTC Therapeutics, sold shares of the company's common stock on January 7th and 8th, 2025.
- The sales were executed to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
- On January 7th, 1,543 shares were sold at a price of $45.34 per share.
- On January 8th, 1,998 shares were sold at a price of $44.50 per share.
- Following these transactions, Boulding directly owns 106,848 shares of PTC Therapeutics common stock.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction (selling shares to cover taxes on vested RSUs), so the sentiment is neutral.
Industry Context
Sales of shares to cover tax obligations upon vesting of RSUs are a common practice among corporate executives. This filing provides transparency into executive compensation and stock ownership at PTC Therapeutics.
Comparison to Industry Standards
- Executive compensation packages often include RSUs that vest over time.
- The sale of shares to cover tax obligations is a standard practice across many publicly traded companies.
- The number of shares sold and the prices obtained are within typical ranges for such transactions.
Stakeholder Impact
- The sale of shares by an executive could have a minor, temporary impact on the stock price, but is unlikely to have a significant long-term effect.
Key Dates
| Date | Description |
|---|---|
| 01/06/2021 | Grant date of 10,200 RSUs, some of which vested and triggered tax obligations. |
| 01/07/2022 | Grant date of 14,400 RSUs, some of which vested and triggered tax obligations. |
| 01/05/2023 | Grant date of 17,000 RSUs, some of which vested and triggered tax obligations. |
| 01/07/2025 | Sale of 1,543 shares at $45.34. |
| 01/08/2025 | Sale of 1,998 shares at $44.50. |
| 01/10/2025 | Date of Form 4 filing. |
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