Form 4: Sangamo Therapeutics Executive Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
Nathalie Dubois-Stringfellow, SVP-Chief Development Officer of Sangamo Therapeutics, reports disposals of common stock to cover tax obligations related to RSU vesting.
Summary
- On May 24 and May 25, 2024, Nathalie Dubois-Stringfellow, SVP-Chief Development Officer of Sangamo Therapeutics, disposed of shares of common stock to cover mandatory tax withholding.
- The disposals were not discretionary trades but were required under the terms of the company's Amended and Restated 2018 Equity Incentive Plan.
- On May 24, 1,787 shares were disposed of at a price of $0.60 per share.
- On May 25, 1,508 shares were disposed of at a price of $0.60 per share.
- Following these transactions, Dubois-Stringfellow beneficially owns 842,893 shares of Sangamo Therapeutics common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock disposals for tax purposes. It doesn't convey any particularly positive or negative sentiment regarding the company's performance or outlook.
Future Outlook
The reporting person's remaining RSU grants will continue to vest in quarterly installments through February 2026, subject to continuous service.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders trade their company's stock. This filing indicates routine tax-related stock disposals, which are common among executives receiving equity compensation.
Comparison to Industry Standards
- Similar to other biotechnology companies, Sangamo uses RSU grants as part of its compensation packages.
- The vesting schedules and tax withholding practices are generally consistent with industry norms.
- Companies like CRISPR Therapeutics and Editas Medicine also utilize equity-based compensation, and their executives regularly file Form 4s for similar transactions.
Stakeholder Impact
- The stock disposals have a minimal impact on shareholders as they are related to tax obligations and do not represent a change in the executive's overall confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 02/25/2022 | Date of RSU grant that vests in quarterly installments through February 25, 2025 |
| 02/24/2023 | Date of RSU grant that vests in quarterly installments through February 24, 2026 |
| 01/22/2024 | Date of RSU grant that vests as to one-half on the first anniversary of the grant date, and the remainder in 4 successive equal quarterly installments thereafter. |
| 05/24/2024 | Disposal of 1,787 shares for tax withholding at $0.60/share; Vesting installment of February 24, 2023 RSU grant. |
| 05/25/2024 | Disposal of 1,508 shares for tax withholding at $0.60/share; Vesting installment of February 25, 2022 RSU grant. |
| 05/29/2024 | Date of signature on the Form 4 filing. |
| 02/25/2025 | Last vesting date for February 25, 2022 RSU grant. |
| 02/24/2026 | Last vesting date for February 24, 2023 RSU grant. |
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