Form 4: SpringWorks Therapeutics CFO Reports Stock Transactions for Tax Obligations

SpringWorks Therapeutics' Chief Financial Officer, Francis I. Perier Jr., reported the withholding of company stock to cover tax obligations related to vesting restricted stock units.

Summary

• Francis I. Perier Jr., the Chief Financial Officer of SpringWorks Therapeutics, reported several transactions involving the company's common stock.
• These transactions occurred between January 4, 2025 and January 6, 2025.
• The transactions involved the withholding of shares by the company to cover tax obligations related to the vesting of restricted stock units.
• A total of 3,582 shares were withheld on January 4, 2025 at a price of $38.19 per share.
• On January 5, 2025, 3,278 shares were withheld at the same price of $38.19 per share.
• Finally, on January 6, 2025, 3,283 shares were withheld at a price of $38.86 per share.
• These transactions did not represent a sale by the CFO but rather a transfer to cover tax liabilities.
• Following these transactions, the CFO's direct holdings of common stock decreased from 55,671 to 49,110 shares.

Sentiment

Score: 5

Explanation: The document is a routine filing of stock transactions for tax purposes and does not indicate any positive or negative sentiment.

Management Comments

• The shares withheld by the Issuer were to satisfy tax withholding obligations in connection with the vesting of restricted stock units and do not represent a sale by the Reporting Person.

Industry Context

This is a routine filing related to insider transactions, specifically the withholding of shares for tax purposes, which is common practice for companies that issue stock-based compensation.

Comparison to Industry Standards

• The tax withholding of shares is a standard practice across publicly traded companies, particularly those that offer stock-based compensation.
• Similar transactions are regularly reported by executives and directors of other companies in the pharmaceutical and biotechnology sectors, such as Pfizer, Moderna, and BioNTech.
• These transactions are typically not indicative of the company's performance or future prospects, but rather a routine part of compensation management.

Stakeholder Impact

• The transactions have a minor impact on the total number of outstanding shares, but are not expected to significantly affect shareholders.

Key Dates

Keywords

SpringWorks Therapeutics, SWTX, Form 4, insider trading, stock transactions, tax withholding, restricted stock units, CFO, Francis I. Perier Jr.