Form 4: Relay Therapeutics Chief Legal Officer Reports Stock Transactions Following RSU Vesting

Brian Adams, Chief Legal Officer of Relay Therapeutics, sold shares to cover tax obligations following the vesting of restricted stock units and was also granted additional RSUs.

Summary

• Brian Adams, the Chief Legal Officer of Relay Therapeutics, sold 33,688 shares of common stock at $4.63 per share on January 28, 2025, to cover income tax withholding obligations related to the vesting of 105,505 restricted stock units (RSUs).
• On the same day, Mr. Adams was granted 139,141 RSUs under the company's 2020 Stock Option and Incentive Plan.
• He then sold an additional 20,791 shares at $4.42 per share on January 30, 2025, to cover income tax withholding obligations related to the vesting of 69,570 RSUs.
• Following these transactions, Mr. Adams beneficially owns 406,270 shares of common stock, which includes 241,399 shares underlying RSUs.

Sentiment

Score: 6

Explanation: The document reflects routine transactions related to executive compensation. There is no indication of positive or negative sentiment, it is a neutral event.

Positives

• The grant of 139,141 RSUs to the Chief Legal Officer indicates continued alignment of interests with the company's long-term performance.

Risks

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

Industry Context

This is a routine filing related to stock transactions by a company officer, which is common in publicly traded companies, especially around vesting periods for equity compensation.

Comparison to Industry Standards

• The sale of shares to cover tax obligations upon RSU vesting is a standard practice across publicly traded companies.
• The number of RSUs granted is within the typical range for executive compensation packages in the biotech industry.
• Similar transactions are regularly reported by executives at comparable companies such as BioMarin Pharmaceutical and Vertex Pharmaceuticals.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they are related to executive compensation and tax obligations.

Key Dates

Keywords

Relay Therapeutics, RLAY, Brian Adams, Chief Legal Officer, stock sale, RSU, restricted stock units, insider trading, Form 4