Form 4: Relay Therapeutics CEO Sanjiv Patel Reports Stock Transactions Following RSU Vesting

Sanjiv Patel, CEO of Relay Therapeutics, reports the sale and acquisition of common stock related to the vesting of restricted stock units (RSUs) to cover income tax withholding obligations.

Summary

• On February 11, 2025, Sanjiv Patel, CEO of Relay Therapeutics, sold 140,182 shares of common stock at $3.85 per share to cover income tax withholding obligations upon the vesting of 381,180 RSUs.
• On the same day, Patel acquired 332,465 shares of common stock at $0 per share, representing RSUs granted under the company's 2020 Stock Option and Incentive Plan.
• On February 13, 2025, Patel sold 75,324 shares of common stock at $3.7 per share to cover income tax withholding obligations upon the vesting of 166,232 RSUs.
• Following these transactions, Patel directly owns 883,089 shares of common stock, including shares underlying RSUs.
• Patel also indirectly owns 199,548 shares through The Patel Family Irrevocable Trust of 2019 and 687,355 shares through The SSP Irrevocable Trust of 2020, but disclaims beneficial ownership of these shares.

Sentiment

Score: 6

Explanation: The document reflects routine transactions related to executive compensation. It's neutral in tone and doesn't indicate any significant positive or negative developments for the company.

Positives

• The granting of RSUs to the CEO aligns his interests with the long-term performance of the company.

Risks

• Sales of shares by insiders, even for tax obligations, can sometimes be perceived negatively by the market.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This Form 4 filing is a routine disclosure related to executive compensation and stock ownership. It's common for executives to sell shares to cover tax obligations when RSUs vest.

Comparison to Industry Standards

• Executive compensation packages including RSUs are standard practice in the biotechnology industry.
• Companies like Amgen, Gilead, and Biogen also utilize RSUs as part of their executive compensation plans.
• The vesting schedules and tax implications are generally similar across these companies.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the sale of shares by the CEO, but this is primarily related to tax obligations.

Key Dates

Keywords

RLAY, Relay Therapeutics, Sanjiv Patel, Form 4, RSU, Stock Sale, Insider Trading, Beneficial Ownership