Form 4: Rocket Pharmaceuticals Executive Sells Shares to Cover Tax Obligations

A Rocket Pharmaceuticals executive, Kinnari Patel, sold 4,588 shares of common stock to cover tax obligations related to the vesting of Restricted Stock Units.

Summary

• Kinnari Patel, a President, Head of R&D and Chief Operating Officer at Rocket Pharmaceuticals, sold 4,588 shares of common stock on November 21, 2024.
• The sale was executed at a price of $13.054 per share.
• This transaction was to cover tax withholding obligations associated with the vesting of Restricted Stock Units (RSUs).
• Following the transaction, Ms. Patel directly owns 392,395 shares of common stock.
• She also indirectly owns 5,675 shares through her spouse and 104,927 shares through Adaptive Technology LLC, managed by her husband.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when RSUs vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across the biotechnology and pharmaceutical industries.
• Many companies use RSUs as part of their compensation packages, leading to similar transactions by executives at other firms.
• The sale of 4,588 shares is not unusual for an executive at this level.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Rocket Pharmaceuticals, insider trading, stock sale, Kinnari Patel, restricted stock units, tax obligations, executive compensation