Form 4: Soleno Therapeutics CFO James Mackaness Sells Shares to Cover Tax Obligations

James Mackaness, CFO of Soleno Therapeutics, sold shares of the company's common stock on August 5th and 6th, 2024, to cover tax withholding obligations related to the vesting of restricted stock units.

Summary

• James Mackaness, the Chief Financial Officer of Soleno Therapeutics, sold shares of the company's common stock on August 5th and 6th, 2024.
• The sales were executed in multiple transactions at varying prices.
• The sales were conducted to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• On August 5, 2024, Mackaness sold 3,858 shares at a weighted average price of $45.4767 and 2,991 shares at a weighted average price of $46.1439.
• On August 6, 2024, Mackaness sold 799 shares at a weighted average price of $43.6397, 2,699 shares at a weighted average price of $45.2471, and 4,636 shares at a weighted average price of $45.89.
• Following these transactions, Mackaness still beneficially owns 140,780 shares of Soleno Therapeutics common stock.
• Certain of these securities are RSUs, each representing a contingent right to receive one share of common stock, subject to vesting schedules and conditions.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to stock sales by an insider to cover tax obligations. 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 stock 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 stock sales could have a minor impact on shareholders due to the increased supply of shares in the market, but the impact is likely to be minimal given the relatively small number of shares sold.

Key Dates