Form 4: Repare Therapeutics CEO Lloyd Segal Sells Shares to Cover Tax Obligations
SEC Form 4
Repare Therapeutics' CEO, Lloyd Mitchell Segal, sold shares on March 28, 2024, and April 1, 2024, to cover tax obligations related to vested restricted stock units.
Summary
- Lloyd Mitchell Segal, the President and CEO of Repare Therapeutics Inc., filed a Form 4 detailing changes in beneficial ownership.
- On March 28, 2024, Segal sold 2,650 common shares at a weighted average price of $4.62 per share to cover tax obligations related to vesting of restricted stock units.
- On April 1, 2024, Segal sold 2,491 common shares at a weighted average price of $4.63 per share for the same reason.
- These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 22, 2023.
- The reported transactions do not represent discretionary sales by the holder.
- Segal also indirectly owns shares through Arvala Inc., where he is the sole stockholder.
- He also owns shares acquired through the company's employee stock purchase plan.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing simply reports necessary transactions for tax purposes and doesn't indicate any strategic shift or concern.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The use of a 10b5-1 plan is a common practice to avoid accusations of insider trading.
Key Dates
| Date | Description |
|---|---|
| January 30, 2023 | Holder was granted 78,550 restricted stock units. |
| February 1, 2023 | Form 4 filed reporting the grant of restricted stock units. |
| February 15, 2023 | 1,217 shares acquired under the Issuer's employee stock purchase plan. |
| August 15, 2023 | 967 shares acquired under the Issuer's employee stock purchase plan. |
| December 22, 2023 | Rule 10b5-1 trading plan adopted by the holder. |
| January 30, 2024 | 26,183 of the restricted stock units vested. |
| February 15, 2024 | 2,000 shares acquired under the Issuer's employee stock purchase plan. |
| March 28, 2024 | 2,650 common shares sold at a weighted average price of $4.62. |
| April 1, 2024 | 2,491 common shares sold at a weighted average price of $4.63. |
| April 01, 2024 | Date of signature for the Form 4 filing. |
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