Form 4: Scholar Rock Director Michael Gilman Transfers Shares via Gift
SEC Form 4 Filing
Director Michael Gilman transferred 37,459 shares of Scholar Rock Holding Corp stock from a family trust to himself via a gift.
Summary
- Michael Gilman, a director at Scholar Rock Holding Corp, transferred 37,459 shares of common stock from the Michael Gilman Irrevocable Trust of 2016 to himself.
- This transfer was executed as a bona fide gift on November 12, 2024.
- The trust is held for the benefit of Mr. Gilman's spouse and children, with his spouse acting as a trustee.
- Following the transaction, Mr. Gilman directly owns 50,959 shares, which includes 13,500 restricted stock units.
- The transferred shares are subject to a lock-up agreement dated October 8, 2024.
Sentiment
Score: 5
Explanation: The document is a routine filing about a stock transfer, which is neither positive nor negative for the company's outlook.
Positives
- The transfer of shares to a director could be seen as a sign of confidence in the company's future.
Industry Context
This is a routine filing related to changes in beneficial ownership by a company director, which is common in the biotech industry.
Comparison to Industry Standards
- Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders across all publicly traded companies, including biotech firms like Scholar Rock.
- The transfer of shares via gift is not unusual, and the lock-up agreement is a common practice to prevent large-scale selling of shares immediately after a transaction.
Related Party Transactions
- The transfer of shares from the Michael Gilman Irrevocable Trust of 2016 to Michael Gilman is a related party transaction.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a transfer of shares between related parties and does not involve a sale to the open market.
Key Dates
| Date | Description |
|---|---|
| 10/08/2024 | Date of the lock-up agreement for the transferred shares. |
| 11/12/2024 | Date of the stock transfer from the trust to Michael Gilman. |
| 11/13/2024 | Date the Form 4 was signed. |
Keywords
Scholar Rock, SRRK, Michael Gilman, stock transfer, beneficial ownership, Form 4, director, gift, lock-up agreement, restricted stock units
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