Form 4: Seres Therapeutics Executive Thomas DesRosier Reports Stock Transactions
SEC Form 4
Thomas DesRosier, Chief Legal Officer and EVP of Seres Therapeutics, reports the vesting and sale of common stock related to restricted stock units.
Summary
- On October 27, 2024, Thomas DesRosier, Chief Legal Officer and EVP of Seres Therapeutics, had 13,500 restricted stock units (RSUs) vest and settle.
- These RSUs represent a contingent right to receive one share of Seres Therapeutics common stock each.
- DesRosier also sold 4,259 shares of common stock on October 28, 2024, at a weighted average price of $0.6901 per share.
- These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on May 4, 2023, to cover taxes associated with the RSU vesting.
- Following these transactions, DesRosier beneficially owns 133,414 shares of Seres Therapeutics common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment about the company's prospects.
Industry Context
Form 4 filings are a routine part of the US financial market, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the small volume of shares sold by the executive.
Key Dates
| Date | Description |
|---|---|
| February 3, 2023 | Reporting person was granted an award of 27,001 restricted stock units ('RSUs'). |
| April 27, 2023 | The 'Initial Milestone Date', the Issuer's Administrator determined that the performance criteria for the first installment were met. |
| May 4, 2023 | Reporting person adopted a Rule 10b5-1 instruction. |
| October 27, 2023 | Date that was six months from the Initial Milestone Date, resulting in the vesting and settlement of the award as to 13,501 RSUs. |
| October 27, 2024 | 13,500 RSUs vested and settled, the date that was eighteen months from the Initial Milestone Date. |
| October 28, 2024 | 4,259 shares of common stock were sold. |
| October 29, 2024 | Date of signature for the Form 4 filing. |
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