Form 4: Rhythm Pharmaceuticals Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Pamela J. Cramer, Chief Human Resources Officer of Rhythm Pharmaceuticals, sold shares of common stock to cover withholding taxes related to vesting restricted stock units.
Summary
- On February 9, 2025, Pamela J. Cramer, Chief Human Resources Officer of Rhythm Pharmaceuticals, vested 2,344 restricted stock units, each representing a contingent right to receive one share of the company's common stock.
- On February 11, 2025, Ms. Cramer sold 698 shares of common stock at a price of $57.51 per share and 3 shares at $57.54.
- The sales were executed pursuant to a pre-arranged Rule 10b5-1 trading plan adopted before February 27, 2023, solely to cover withholding taxes associated with the vesting of the restricted stock units.
- Following these transactions, Ms. Cramer directly owns 16,891 shares of Rhythm Pharmaceuticals common stock and 2,343 restricted stock units.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction (stock sale for tax obligations) and doesn't inherently indicate positive or negative sentiment regarding the company's performance.
Industry Context
Executive stock sales are a common occurrence, particularly when tied to vesting schedules of equity compensation. Rule 10b5-1 plans are frequently used to allow insiders to sell shares in a predetermined manner, avoiding accusations of trading on non-public information.
Key Dates
| Date | Description |
|---|---|
| February 9, 2023 | 25% of restricted stock units vested. |
| February 9, 2024 | 25% of restricted stock units vested. |
| February 9, 2025 | 2,344 restricted stock units vested. |
| February 9, 2026 | 25% of restricted stock units will vest. |
| February 11, 2025 | Ms. Cramer sold 698 shares at $57.51 and 3 shares at $57.54. |
Keywords
Form 4, Rhythm Pharmaceuticals, RYTM, Pamela J. Cramer, insider trading, stock sale, restricted stock units, Rule 10b5-1
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