Form 4: Revance Therapeutics CEO Mark Foley Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Mark Foley, CEO of Revance Therapeutics, reports the withholding of shares to cover tax obligations related to vesting restricted stock awards and performance-based restricted stock units.
Summary
- On March 15, 2024, Revance Therapeutics' CEO, Mark Foley, had shares withheld to cover tax obligations.
- 3,305 shares were withheld to satisfy tax obligations related to the vesting of a restricted stock award.
- An additional 17,228 shares were withheld to cover tax obligations related to the vesting of performance-based restricted stock units (PSUs).
- Following these transactions, Foley directly owns 994,935 shares of common stock.
- Foley also indirectly owns 110,913 shares through the Foley Family Trust.
Sentiment
Score: 5
Explanation: This is a routine filing related to tax obligations on vested stock, so it doesn't carry strong positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for company insiders like CEOs to report changes in their ownership of company stock, ensuring transparency and compliance with SEC regulations.
Stakeholder Impact
- The transactions reported have a minor dilutive effect on existing shareholders due to the shares being withheld for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 04/10/2002 | Date of Foley Family Trust U/A DTD |
| 03/15/2021 | Start date of three equal annual installments from March 15, 2021 for the vesting of a restricted stock award (the 'RSA') for 13,572 shares. |
| 01/31/2023 | Date of grant for the performance-based restricted stock units ('PSUs'), which vest over a three-year period based on the achievement of revenue goals. |
| 03/15/2024 | Date of transaction: Shares withheld to cover tax obligations related to vesting of restricted stock award and performance-based restricted stock units. |
| 03/19/2024 | Date of signature for the report. |
Keywords
Revance Therapeutics, Mark Foley, Beneficial Ownership, Form 4, SEC Filing, Stock Options, Restricted Stock Units, Tax Withholding
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