Form 4: Sangamo Therapeutics CFO Surrenders Shares for Tax Withholding
SEC Form 4 Filing
Prathyusha Duraibabu, CFO of Sangamo Therapeutics, surrendered shares to cover tax obligations upon vesting of restricted stock units.
Summary
- On April 22, 2025, Prathyusha Duraibabu, the SVP and CFO of Sangamo Therapeutics, surrendered 31,866 shares of common stock to the company for tax withholding purposes.
- The shares were surrendered at a price of $0.7763 per share, which was the Issuer's closing stock price on April 22, 2025.
- This transaction was related to the vesting of a portion of a restricted stock unit (RSU) grant.
- Following the transaction, Duraibabu beneficially owns 779,937 shares of Sangamo Therapeutics common stock.
- These shares include those from previous RSU grants that are vesting in installments through January 2026 and February 2026, subject to continued service.
Sentiment
Score: 5
Explanation: This is a neutral event related to routine tax obligations. It doesn't indicate positive or negative sentiment towards the company's prospects.
Future Outlook
The vesting of remaining RSU grants is subject to the Reporting Person's Continuous Service through each such date and subject to acceleration as provided in the 2018 EIP.
Industry Context
This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies. It doesn't necessarily reflect a change in the executive's confidence in the company.
Comparison to Industry Standards
- Similar transactions are common among executives at publicly traded companies, especially when dealing with equity-based compensation.
- Companies like CRISPR Therapeutics and Editas Medicine, which are also in the gene editing space, often have similar filings related to executive stock options and RSUs.
- The amount of shares surrendered for tax withholding is proportional to the vested amount and the applicable tax rates, which are standard practices.
Key Dates
| Date | Description |
|---|---|
| 01/22/2024 | Date of RSU grant, vesting in installments through January 22, 2026. |
| 02/24/2023 | Date of RSU grant, vesting in installments through February 24, 2026. |
| 02/25/2025 | Date of RSU grant, vesting as to one-fourth (1/4) of the shares on February 25, 2026, and the remainder of the shares will vest in 8 successive equal quarterly installments thereafter. |
| 04/22/2025 | Date of transaction: CFO surrendered shares for tax withholding at $0.7763/share. |
| 04/24/2025 | Date of signature on the Form 4 filing. |
Keywords
Sangamo Therapeutics, Form 4, Beneficial Ownership, Prathyusha Duraibabu, CFO, Stock Surrender, Tax Withholding, RSU, SGMO
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