Form 4: Repare Therapeutics EVP, CFO Steve Forte Sells Shares to Cover Tax Obligations
SEC Form 4
Steve Forte, EVP and CFO of Repare Therapeutics, sold shares on March 28, 2024, and April 1, 2024, to cover tax obligations related to vested restricted stock units.
Summary
- Steve Forte, the EVP and CFO of Repare Therapeutics, sold shares of common stock on March 28, 2024, and April 1, 2024.
- The sales were executed to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs).
- The transactions were made pursuant to a Rule 10b5-1 trading plan adopted on December 22, 2023.
- On March 28, 2024, 825 shares were sold at a weighted average price of $4.62, with prices ranging from $4.48 to $4.80.
- On April 1, 2024, 789 shares were sold at a weighted average price of $4.61, with prices ranging from $4.51 to $4.64.
- Following these transactions, Steve Forte beneficially owns 44,775 shares of Repare Therapeutics.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to insider trading. It doesn't contain information that would significantly sway investor sentiment positively or negatively. The sales are related to tax obligations, which is a common practice.
Industry Context
This is a routine Form 4 filing, indicating insider transactions. It is common for executives to sell shares to cover tax obligations related to vesting equity awards. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on current market information.
Stakeholder Impact
- The sale of shares by an executive could be perceived negatively by some shareholders, but the explanation that it is for tax obligations and part of a pre-planned trading plan should mitigate concerns.
Key Dates
| Date | Description |
|---|---|
| 2023-01-30 | Holder was granted 24,530 restricted stock units (RSUs). |
| 2023-02-15 | Acquired 1,312 shares under the Issuer's employee stock purchase plan. |
| 2023-08-15 | Acquired 865 shares under the Issuer's employee stock purchase plan. |
| 2023-12-22 | Rule 10b5-1 trading plan adopted by the holder. |
| 2024-01-30 | 8,177 of the RSUs vested. |
| 2024-02-15 | Acquired 2,000 shares under the Issuer's employee stock purchase plan. |
| 2024-03-28 | 825 shares sold at a weighted average price of $4.62. |
| 2024-04-01 | 789 shares sold at a weighted average price of $4.61. |
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