Form 4: Scholar Rock Holding Corp. Chief Medical Officer Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Jing L. Marantz, Chief Medical Officer of Scholar Rock Holding Corp., sold 5,655 shares of common stock to cover tax obligations related to vesting restricted stock units.
Summary
- Jing L. Marantz, the Chief Medical Officer of Scholar Rock Holding Corp., sold 5,655 shares of common stock on January 16, 2025.
- The sale was executed at a price of $44.1972 per share.
- This transaction was not a discretionary trade but rather a 'sell to cover' transaction mandated by the company to cover tax withholding obligations related to the vesting of restricted stock units (RSUs).
- The RSUs were granted on February 12, 2024, and vest annually over four years.
- Following the transaction, Marantz beneficially owns 67,200 shares, consisting of 12,558 shares of common stock and 54,642 RSUs.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment regarding the company's performance or outlook.
Industry Context
This is a routine transaction for executives who receive equity compensation. It is common for companies to mandate 'sell to cover' transactions to manage tax obligations for employees.
Comparison to Industry Standards
- Many biotech and pharmaceutical companies use restricted stock units as part of their compensation packages.
- It is standard practice for companies to facilitate 'sell to cover' transactions to manage tax obligations for employees.
- The vesting schedule of four years is also a common practice in the industry.
- Comparable companies such as BioMarin Pharmaceutical and Vertex Pharmaceuticals also use similar equity compensation plans.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.
- The sale does not indicate any change in the executive's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 02/12/2024 | Date of grant for the restricted stock units (RSUs). |
| 01/15/2025 | Date of vesting for the restricted stock units (RSUs) that triggered the tax obligation. |
| 01/16/2025 | Date of the stock sale to cover tax obligations. |
| 01/21/2025 | Date of the filing of the Form 4. |
Keywords
Form 4, Insider Trading, Stock Sale, Restricted Stock Units, Tax Withholding, Scholar Rock Holding Corp, SRRK, Jing L. Marantz, Chief Medical Officer
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