Form 4: Sage Therapeutics COO Christopher Benecchi Reports Stock Transaction

Christopher Benecchi, COO of Sage Therapeutics, reports the withholding of shares to cover tax obligations upon the vesting of restricted stock units.

Summary

• On February 13, 2025, Christopher Benecchi, the Chief Operating Officer of Sage Therapeutics, had 822 shares of common stock withheld to cover tax obligations.
• This was due to the vesting of 3,375 shares of time-based restricted stock units (RSUs) granted on February 13, 2024, under the company's 2014 Stock Option and Incentive Plan.
• The RSUs vest 25% on each grant anniversary date over four years.
• Following the transaction, Benecchi beneficially owns 43,915 shares of Sage Therapeutics common stock directly.

Sentiment

Score: 5

Explanation: This is a neutral report on a routine stock transaction related to executive compensation. It doesn't indicate positive or negative sentiment.

Industry Context

This is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the stock ownership of key executives.

Comparison to Industry Standards

• Stock-based compensation is a common practice in the biotechnology industry to align executive incentives with shareholder value.
• Vesting schedules of four years are standard for RSU grants.
• Companies like Biogen, Vertex Pharmaceuticals, and Amgen also utilize RSUs as part of their executive compensation packages.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it reflects the standard compensation practices of the company.
• Employees who are granted RSUs are affected as they vest over time.

Key Dates