Form 4: Sangamo Therapeutics CEO Sandy Macrae Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
CEO Sandy Macrae disposed of shares to cover tax obligations related to vesting restricted stock units (RSUs).
Summary
- Sandy Macrae, the CEO and a director of Sangamo Therapeutics, reported the disposal of 5,261 and 7,492 shares of common stock on August 24 and August 25, 2024, respectively.
- These disposals were not discretionary trades but were solely for mandatory tax withholding purposes related to the vesting of restricted stock units (RSUs).
- The shares were surrendered to the Issuer at a price of $0.86 per share, based on the closing stock price on August 23, 2024.
- Following these transactions, Macrae still beneficially owns 2,526,698 shares of Sangamo Therapeutics common stock.
- The remaining shares are subject to vesting schedules through February 2026.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, indicating a neutral sentiment. It reflects standard insider transactions for tax purposes.
Future Outlook
The document outlines the vesting schedule of existing RSU grants through February 2026.
Industry Context
Form 4 filings are standard disclosures for company insiders and provide transparency regarding their transactions in the company's stock.
Stakeholder Impact
- The stock disposal to cover tax obligations may have a minor impact on shareholders due to the slight dilution, but it is a standard practice.
Key Dates
| Date | Description |
|---|---|
| 02/25/2022 | Date of RSU grant that will vest in successive equal quarterly installments through February 25, 2025 |
| 02/24/2023 | Date of RSU grant that will vest in successive equal quarterly installments through February 24, 2026 |
| 01/22/2024 | Date of RSU grant that will vest as to one-half (1/2) of the shares on the first anniversary of the grant date, and the remainder of the shares will vest in 4 successive equal quarterly installments thereafter. |
| 08/23/2024 | Closing stock price of $0.86/share used for tax withholding. |
| 08/24/2024 | Date of stock disposal for tax withholding (5,261 shares) and vesting installment of RSU grant. |
| 08/25/2024 | Date of stock disposal for tax withholding (7,492 shares) and vesting installment of RSU grant. |
| 08/27/2024 | Date of signature by Attorney-in-Fact. |
| 02/25/2025 | RSU grant will vest in successive equal quarterly installments through this date |
| 02/24/2026 | RSU grant will vest in successive equal quarterly installments through this date |
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