Form 4: Sangamo Therapeutics Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Nathalie Dubois-Stringfellow, SVP-Chief Development Officer at Sangamo Therapeutics, sold shares to cover tax obligations related to RSU vesting.
Summary
- Nathalie Dubois-Stringfellow, SVP-Chief Development Officer at Sangamo Therapeutics, filed a Form 4 detailing changes in beneficial ownership.
- On February 24, 2024, and February 25, 2024, Dubois-Stringfellow surrendered 5,474 and 5,010 shares, respectively, to cover mandatory tax withholding related to the vesting of Restricted Stock Units (RSUs).
- The shares were surrendered at a price of $1.13 per share, based on the Issuer's closing stock price on February 23, 2024.
- Following these transactions, Dubois-Stringfellow beneficially owns 851,198 and 846,188 shares of Sangamo Therapeutics common stock, respectively.
- The remaining shares are subject to vesting schedules as outlined in the 2018 Equity Incentive Plan.
Sentiment
Score: 5
Explanation: The document is neutral, simply reporting a routine transaction related to tax obligations. It doesn't indicate any positive or negative sentiment about the company's prospects.
Future Outlook
The remaining RSU shares will continue to vest according to the schedules outlined in the 2018 Equity Incentive Plan, subject to continuous service.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors for insights into management's perspective on the company's stock.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale of shares for tax purposes and does not represent a change in the executive's overall confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 02/25/2021 | Date of RSU grant that will vest in one final installment on February 25, 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. |
| 02/23/2024 | Issuer's closing stock price of $1.13/share used for tax withholding. |
| 02/24/2024 | Date of transaction where 5,474 shares were surrendered for tax withholding. |
| 02/25/2024 | Date of transaction where 5,010 shares were surrendered for tax withholding. |
| 02/27/2024 | Date of Form 4 filing. |
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