Form 4: Soleno Therapeutics Executive Sells Shares to Cover Tax Obligations

Kristen Yen, a Senior Vice President at Soleno Therapeutics, sold shares to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On October 1, 2024, Kristen Yen, Senior Vice President at Soleno Therapeutics, sold a total of 3,108 shares of common stock.
• The sales were executed in two transactions, with 2,789 shares sold at a weighted average price of $49.3358 and 319 shares sold at a weighted average price of $50.2479.
• These sales were made to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• Following these transactions, Yen directly owns 81,465 shares of Soleno Therapeutics, some of which are RSUs representing a contingent right to receive one share of common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction (stock sale for tax obligations) and doesn't inherently indicate positive or negative sentiment regarding the company's performance.

Industry Context

This is a routine Form 4 filing, which is common for corporate executives who sell shares of their company's stock. These filings are publicly available and provide transparency into insider transactions.

Stakeholder Impact

• The stock sale may 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