Form 4: Revance Therapeutics President Dustin Sjuts Reports Stock Transactions
SEC Form 4
Dustin Sjuts, President of Revance Therapeutics, reports the withholding and sale of common stock to cover tax obligations related to vesting restricted stock awards and performance-based restricted stock units.
Summary
- On March 15, 2024, Dustin Sjuts, President of Revance Therapeutics, had 2,967 shares of common stock 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, Sjuts sold 9,211 shares of common stock at a weighted average price of $5.0425 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, Sjuts beneficially owns 167,550 shares of Revance Therapeutics common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by a company executive to cover tax obligations. It doesn't inherently convey 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. This filing indicates transactions related to tax obligations arising from equity compensation.
Key Dates
| Date | Description |
|---|---|
| 03/15/2021 | Start date of the three-year vesting period for the restricted stock award. |
| 01/31/2023 | Date of grant for the performance-based restricted stock units (PSUs). |
| 03/15/2024 | Date when 2,967 shares were withheld to cover tax obligations related to vesting restricted stock. |
| 03/18/2024 | Date when 9,211 shares were sold to cover tax obligations related to vesting performance-based restricted stock units. |
| 03/19/2024 | Date of signature for the Form 4 filing. |
Keywords
Revance Therapeutics, Dustin Sjuts, Form 4, Stock Sale, Restricted Stock Units, Tax Withholding, Beneficial Ownership, RVNC
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