Form 4: Sangamo Therapeutics SVP, CFO Prathyusha Duraibabu Reports Tax-Related Stock Disposal
SEC Form 4
Prathyusha Duraibabu, SVP and CFO of Sangamo Therapeutics, reports the disposal of shares to cover tax obligations upon vesting of restricted stock units.
Summary
- On January 22, 2025, Prathyusha Duraibabu, SVP and CFO of Sangamo Therapeutics, disposed of 129,242 shares of common stock at $1.15 per share to cover tax obligations related to the vesting of restricted stock units (RSUs).
- This transaction was not a discretionary trade but a mandatory tax withholding as per the company's Amended and Restated 2018 Equity Incentive Plan.
- Following the transaction, Duraibabu directly owns 694,970 shares of Sangamo Therapeutics common stock.
- These shares include those from the January 22, 2024 RSU grant vesting, the February 25, 2022 RSU grant vesting, and the February 24, 2023 RSU grant vesting.
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 January 22, 2024 RSU grant will vest in equal quarterly installments through January 22, 2026, the 3,844 shares subject to the February 25, 2022 RSU grant will vest on February 25, 2025, and the 25,049 shares subject to the February 24, 2023 RSU grant will vest in equal quarterly installments through February 24, 2026, all subject to continuous service.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies.
Comparison to Industry Standards
- Equity compensation and related tax withholding practices are standard across publicly traded companies, particularly in the biotechnology sector.
- Companies like CRISPR Therapeutics and Editas Medicine also utilize RSU grants as part of their executive compensation packages, and their executives would similarly be required to report share disposals for tax purposes.
Key Dates
| Date | Description |
|---|---|
| February 25, 2022 | Date of RSU grant, 3,844 shares will vest in one final installment on February 25, 2025. |
| February 24, 2023 | Date of RSU grant, 25,049 shares will vest in successive equal quarterly installments through February 24, 2026. |
| January 22, 2024 | Date of RSU grant, shares will vest in successive equal quarterly installments through January 22, 2026. |
| January 22, 2025 | Date of transaction: Disposal of shares for tax withholding and vesting of RSU installment. |
| February 25, 2025 | Final vesting installment of February 25, 2022 RSU grant. |
| January 22, 2026 | Final vesting installment of January 22, 2024 RSU grant. |
| February 24, 2026 | Final vesting installment of February 24, 2023 RSU grant. |
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