Form 4: Sangamo Therapeutics SVP, CFO Prathyusha Duraibabu Reports Stock Transaction
SEC Form 4
Prathyusha Duraibabu, SVP and CFO of Sangamo Therapeutics, reports a transaction involving the surrender of shares for tax withholding purposes related to vested Restricted Stock Units (RSUs).
Summary
- On June 11, 2024, Prathyusha Duraibabu, SVP and CFO of Sangamo Therapeutics, surrendered 892 shares of common stock to the issuer for tax withholding purposes.
- The shares were surrendered at a price of $0.6077 per share, based on the issuer's closing stock price on the same date.
- This transaction was related to the vesting of RSU grants under the company's 2018 Equity Incentive Plan (EIP).
- Following the transaction, Duraibabu directly owns 830,528 shares of Sangamo Therapeutics common stock, which includes shares from previous RSU grants that are vesting over time.
Sentiment
Score: 5
Explanation: This Form 4 filing is a routine disclosure of a stock transaction related to executive compensation. It doesn't inherently indicate positive or negative sentiment about the company's performance or future prospects.
Industry Context
This is a routine filing related to executive compensation and is common for publicly traded companies. It reflects the standard practice of using RSUs as part of executive compensation packages and the associated tax obligations.
Comparison to Industry Standards
- RSU grants and subsequent tax withholding transactions are standard practice across publicly traded companies, particularly in the biotechnology sector.
- Companies like CRISPR Therapeutics, Editas Medicine, and Intellia Therapeutics also utilize RSU grants as part of their executive compensation packages.
- The vesting schedules and terms of these grants are generally aligned with industry norms to incentivize long-term performance and retention.
Key Dates
| Date | Description |
|---|---|
| 06/11/2021 | Date of the Reporting Person's RSU grant, 1,608 shares resulting from the June 11, 2024 final vesting installment. |
| 02/25/2022 | Date of the Reporting Person's RSU grant, 11,532 shares subject to the Reporting Person's February 25, 2022 RSU grant that will vest in successive equal quarterly installments through February 25, 2025 |
| 02/24/2023 | Date of the Reporting Person's RSU grant, 35,069 shares subject to Reporting Person's February 24, 2023 RSU grant that will vest in successive equal quarterly installments through February 24, 2026 |
| 01/22/2024 | Date of the Reporting Person's RSU grant, 712,500 shares subject to the Reporting Person's January 22, 2024 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. |
| 06/11/2024 | Date of the transaction where 892 shares were surrendered for tax withholding; also the final vesting installment of the Reporting Person's June 11, 2021 RSU grant. |
| 06/13/2024 | Date of the Form 4 filing. |
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