Form 4: Sangamo Therapeutics Executive Surrenders Shares for Tax Withholding After RSU Vesting
SEC Form 4 Filing
Scott B. Willoughby, SVP, General Counsel & Secretary of Sangamo Therapeutics, surrendered shares to cover tax obligations following the vesting of restricted stock units (RSUs).
Summary
- On February 24 and 25, 2024, Scott B. Willoughby, SVP, General Counsel & Secretary of Sangamo Therapeutics, surrendered shares to the company for tax withholding purposes related to the vesting of his restricted stock units (RSUs).
- A total of 4,379 shares were surrendered on February 24, 2024, and 3,453 shares were surrendered on February 25, 2024, both at a price of $1.13 per share.
- These transactions were not discretionary trades but were required for tax obligations under the company's Amended and Restated 2018 Equity Incentive Plan.
- Following these transactions, Willoughby still beneficially owns 836,430 shares of Sangamo Therapeutics common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to stock transactions for tax purposes, indicating a neutral sentiment.
Future Outlook
The remaining shares from the various RSU grants will continue to vest in future installments, subject to the Reporting Person's Continuous Service.
Industry Context
This filing is a routine disclosure related to executive compensation and is common for publicly traded companies. It reflects the standard practice of executives surrendering shares to cover tax obligations upon the vesting of equity awards.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to tax obligations and do not represent a significant change in the executive's holdings.
Key Dates
| Date | Description |
|---|---|
| 02/25/2021 | Date of RSU grant that will vest in one final installment on February 25, 2024 |
| 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. |
| 02/23/2024 | Issuer's closing stock price of $1.13/share used for tax withholding purposes. |
| 02/24/2024 | Date of transaction where 4,379 shares were surrendered for tax withholding. |
| 02/25/2024 | Date of transaction where 3,453 shares were surrendered for tax withholding. |
| 02/25/2024 | Final vesting installment of the Reporting Person's February 25, 2021 RSU grant. |
| 02/27/2024 | Date of signature of the report. |
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