Form 4: Revolution Medicines CFO Sells Shares to Cover Tax Obligations

Jack Anders, CFO of Revolution Medicines, sold 1,893 shares of common stock on June 17, 2024, to cover tax obligations related to vesting restricted stock units.

Summary

• On June 17, 2024, Jack Anders, the Chief Financial Officer of Revolution Medicines, sold 1,893 shares of the company's common stock.
• The sale was executed at a weighted average price of $37.3876 per share, with individual transactions ranging from $37.3869 to $37.3887.
• This transaction was made pursuant to a Rule 10b5-1 trading plan adopted on May 31, 2023, to cover tax withholding obligations upon the vesting of restricted stock units (RSUs).
• Following the reported transaction, Anders beneficially owns 101,176 shares, which includes 55,126 RSUs and 1,110 shares acquired under the Employee Stock Purchase Plan on May 31, 2024.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the transaction is a routine sale of shares to cover tax obligations and was pre-planned under Rule 10b5-1.

Industry Context

Sales of shares by company executives to cover tax obligations are a common practice and are often executed under pre-arranged trading plans like Rule 10b5-1 to avoid accusations of insider trading.

Comparison to Industry Standards

• Executive stock sales for tax purposes are a standard practice across publicly traded companies.
• Companies like Amgen, Gilead, and Regeneron often see similar transactions from their executives.
• The use of Rule 10b5-1 plans is widespread to ensure compliance with insider trading regulations, mirroring practices at companies like Pfizer and Johnson & Johnson.

Stakeholder Impact

• The sale is unlikely to have a significant impact on shareholders as it is a routine transaction by an executive to cover tax obligations.

Key Dates