Form 4: Sangamo Therapeutics Executive Sells Shares for Tax Obligations After RSU Vesting
SEC Form 4 Filing
Scott B. Willoughby, SVP, General Counsel & Secretary of Sangamo Therapeutics, sold shares to cover tax obligations following the vesting of restricted stock units (RSUs).
Summary
- On May 24 and May 25, 2024, Scott B. Willoughby, a senior executive at Sangamo Therapeutics, sold shares of common stock to cover mandatory tax withholding obligations related to the vesting of his restricted stock units (RSUs).
- The sales were not discretionary trades but were required under the terms of the company's Amended and Restated 2018 Equity Incentive Plan.
- The price per share for both transactions was $0.60.
- Following these transactions, Willoughby still beneficially owns 833,694 shares of Sangamo Therapeutics common stock.
- These shares include those from previous RSU grants that are vesting in quarterly installments through February 2026, August 2024 and January 2025.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to stock transactions for tax purposes. It doesn't convey strong positive or negative sentiment.
Future Outlook
The reporting person's remaining RSU grants will continue to vest in quarterly installments through February 2026, August 2024 and January 2025, subject to continuous service.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which can be an indicator of management's confidence in the company's prospects.
Key Dates
| Date | Description |
|---|---|
| 08/13/2021 | Date of RSU grant that will vest in one final installment on August 13, 2024. |
| 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. |
| 05/24/2024 | Date of first transaction: Sale of 1,400 shares for tax withholding at $0.60/share; vesting installment of February 24, 2023 RSU grant. |
| 05/25/2024 | Date of second transaction: Sale of 1,336 shares for tax withholding at $0.60/share; vesting installment of February 25, 2022 RSU grant. |
| 05/29/2024 | Date of Form 4 filing. |
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