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

Patricia C. Hirano, a Senior Vice President at Soleno Therapeutics, sold shares of common stock to cover tax withholding obligations related to the vesting of restricted stock units.

Summary

• On October 1, 2024, Patricia C. Hirano, Senior Vice President of Regulatory Affairs at Soleno Therapeutics Inc., sold shares of the company's common stock.
• A total of 2,789 shares were sold at a weighted average price of $49.3358, with individual prices ranging from $48.95 to $49.94.
• An additional 319 shares were sold at a weighted average price of $50.2479, with individual prices ranging from $49.95 to $50.49.
• The sales were executed to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• Following the reported transactions, Hirano beneficially owns 108,932 shares of Soleno Therapeutics Inc.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to stock sales for tax purposes, indicating a neutral sentiment.

Industry Context

Form 4 filings are standard practice and provide transparency into the trading activities 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 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