Form 4: Schrodinger Inc. Chief Medical Officer Margaret Dugan Sells Shares to Cover Tax Obligations

Margaret Dugan, Chief Medical Officer of Schrodinger, Inc., sold 1,531 shares of common stock on October 15, 2024, to cover withholding tax liabilities related to vesting restricted stock units.

Summary

• On October 15, 2024, Margaret Dugan, the Chief Medical Officer of Schrodinger, Inc., sold 1,531 shares of the company's common stock.
• The sale was executed at a price of $17.783 per share.
• This transaction was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on November 13, 2023.
• The purpose of the sale was to cover withholding tax obligations arising from the vesting of restricted stock units (RSUs).
• Following the transaction, Ms. Dugan beneficially owns 13,469 shares of Schrodinger, Inc., which includes 11,250 unvested RSUs.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction is a routine sale of shares to cover tax obligations and was executed under a pre-arranged trading plan.

Industry Context

Sales of shares by company executives are a normal part of corporate governance, especially when related to covering tax obligations from equity compensation. The use of a 10b5-1 plan indicates the sale was pre-planned and not based on insider information.

Stakeholder Impact

• The sale is unlikely to have a significant impact on shareholders as it is a relatively small transaction by an individual officer to cover tax obligations.

Key Dates