Form 4: Sangamo Therapeutics Executive Sells Shares for Tax Obligations After RSU Vesting
SEC Form 4 Filing
Gregory D. Davis, Head of Research & Technology at Sangamo Therapeutics, sold shares to cover tax obligations following the vesting of a restricted stock unit (RSU) grant.
Summary
- On January 22, 2025, Gregory D. Davis, Head of Research & Technology at Sangamo Therapeutics, sold 30,456 shares of common stock at $1.15 per share to cover mandatory tax withholding related to the vesting of a restricted stock unit (RSU).
- Following the transaction, Davis directly owns 167,570 shares of Sangamo Therapeutics.
- This includes shares from previous RSU grants that are vesting in installments through February 2026 and shares acquired through the Employee Stock Purchase Plan.
- Davis also transferred 8,837 shares to his ex-spouse due to a divorce agreement and no longer reports those shares as beneficially owned.
Sentiment
Score: 6
Explanation: The document is a routine disclosure of an executive's stock transaction. It doesn't contain any particularly positive or negative information about the company's performance or outlook. The sentiment is neutral.
Future Outlook
The remaining shares from the January 22, 2024, and February 24, 2023, RSU grants will continue to vest in quarterly installments through January 22, 2026, and February 24, 2026, respectively, subject to continuous service.
Management Comments
- The required tax withholding transaction is deemed to constitute a disposition of these shares to the Issuer for reporting purposes and does not represent a discretionary trade by the Reporting Person in the open market or otherwise.
Industry Context
Executive stock transactions are common and often related to compensation packages, particularly RSU vesting. The sale to cover tax obligations is a standard practice.
Comparison to Industry Standards
- Executive compensation packages often include RSUs that vest over time, similar to those granted to Gregory D. Davis.
- Companies like CRISPR Therapeutics and Editas Medicine also utilize equity-based compensation, and their executives likely engage in similar transactions to manage tax liabilities upon vesting.
- The vesting schedules and terms are generally aligned with industry standards to incentivize long-term performance and retention.
Key Dates
| Date | Description |
|---|---|
| February 25, 2022 | Date of RSU grant that will vest in one final installment on February 25, 2025. |
| February 24, 2023 | Date of RSU grant that will vest in successive equal quarterly installments through February 24, 2026. |
| January 22, 2024 | Date of RSU grant that will vest in successive equal quarterly installments through January 22, 2026. |
| November 29, 2024 | Date Davis acquired 5,000 shares under the Issuer's 2020 Employee Stock Purchase Plan. |
| January 22, 2025 | Date of RSU vesting and subsequent sale of shares for tax withholding. |
| January 24, 2025 | Date of Form 4 filing. |
| February 25, 2025 | Final vesting installment of February 25, 2022 RSU grant. |
| February 24, 2026 | Final vesting installment of February 24, 2023 RSU grant. |
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