Form 4: Solen Therapeutics CFO James H. Mackaness Sells Shares to Cover Tax Obligations

James H. Mackaness, CFO of Soleno Therapeutics Inc., sold shares of common stock on August 28 and 29, 2024, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• James H. Mackaness, the Chief Financial Officer of Soleno Therapeutics Inc. (SLNO), reported the sale of common stock on August 28 and 29, 2024.
• The sales were executed in multiple trades at varying prices, with weighted average sale prices reported for each transaction.
• On August 28, 2024, Mackaness sold 3,561 shares at a weighted average price of $47.1926 and 3,100 shares at a weighted average price of $48.0274.
• On August 29, 2024, Mackaness sold 5,595 shares at a weighted average price of $47.1596 and 1,275 shares at a weighted average price of $47.8329.
• The sales were made to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• Following these transactions, Mackaness directly owns 127,249 shares of Soleno Therapeutics Inc. common stock, some of which are RSUs representing a contingent right to receive one share of common stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock sales by an insider to cover tax obligations; it doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are standard disclosures required by the SEC when corporate insiders, like the CFO in this case, trade their company's stock; it provides transparency to the market about the transactions of those with privileged information.

Stakeholder Impact

• The sale of shares by a company insider could be perceived negatively by some shareholders, although the stated reason (tax obligations) mitigates this concern.

Key Dates