Form 4: Revolution Medicines CEO Sells Shares to Cover Tax Obligations
SEC Form 4
Mark A. Goldsmith, CEO of Revolution Medicines, sold 11,715 shares of common stock on September 16, 2024, to cover tax withholding obligations related to vesting restricted stock units.
Summary
- Mark A. Goldsmith, the President and CEO of Revolution Medicines, Inc., sold 11,715 shares of the company's common stock on September 16, 2024.
- The sale was executed at a price of $44.1853 per share.
- This transaction was made pursuant to a Rule 10b5-1 trading plan adopted on May 31, 2023, to cover tax obligations arising from the vesting of restricted stock units (RSUs).
- Following the transaction, Goldsmith directly owns 300,170 shares.
- Goldsmith also indirectly owns shares through several trusts: 25,424 shares through the Jonathan Goldsmith Revocable Trust, 25,424 shares through the Rebecca Eve Goldsmith Trust, and 465,604 shares through the Mark A. Goldsmith and Anne E. Midler 2002 Revocable Living Trust.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing simply reports a routine stock sale by the CEO for tax purposes under a pre-existing trading plan. There's no indication of positive or negative implications for the company's performance.
Industry Context
Sales by company executives are a normal part of corporate governance, especially when related to tax obligations and executed under pre-arranged trading plans like Rule 10b5-1. It's common for executives to diversify their holdings or cover tax liabilities.
Stakeholder Impact
- The sale of shares by the CEO could have a minor impact on shareholder sentiment, but is unlikely to be significant given the context of tax obligations and the pre-arranged trading plan.
- The sale does not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 2011-12-15 | Date of the Goldsmith Children's 2011 Irrevocable Education Trust |
| 2023-05-31 | Date of adoption of Rule 10b5-1 instruction letter |
| 2023-07-15 | Date after which the Reporting Person's tax withholding obligation upon the vesting of restricted stock units ('RSUs') is satisfied |
| 2024-09-16 | Date of the transaction (stock sale) |
| 2024-09-18 | Date of signature of the Form 4 filing |
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