Form 4: Revance Therapeutics CFO Tobin Schilke Reports Stock Transactions

Revance Therapeutics CFO Tobin Schilke reports the withholding of shares to cover tax obligations and the sale of shares to cover tax withholding obligations related to vesting restricted stock awards and performance-based restricted stock units.

Summary

• On March 15, 2024, Tobin Schilke, CFO of Revance Therapeutics, had 3,822 shares withheld by the issuer to cover tax obligations related to the vesting of a restricted stock award.
• The restricted stock award (RSA) vested in three equal annual installments from March 15, 2021.
• On March 18, 2024, Schilke sold 9,361 shares at a weighted average price of $5.0426 to cover tax withholding obligations related to the vesting of performance-based restricted stock units (PSUs) granted on January 31, 2023.
• The PSUs vest over a three-year period based on the achievement of revenue goals.
• The sale was mandated by the issuer's sell to cover agreement and does not represent a discretionary trade.
• Following these transactions, Schilke beneficially owns 192,666 shares of common stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions related to tax obligations, so it doesn't convey strong positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors. These filings are closely watched by investors for signals about management's confidence in the company's prospects, although in this case, the transactions are related to tax obligations and not necessarily discretionary trades.

Key Dates

Keywords

Form 4, Revance Therapeutics, RVNC, Tobin Schilke, CFO, Stock Transactions, Beneficial Ownership, Restricted Stock Award, Performance-Based Restricted Stock Units, Tax Withholding, Sell to Cover