Form 4: SpringWorks Therapeutics COO Sells Shares to Cover Tax Obligations

SpringWorks Therapeutics' Chief Operating Officer, Badreddin Edris, disposed of shares to cover tax obligations related to vesting restricted stock units.

Summary

• Badreddin Edris, the Chief Operating Officer of SpringWorks Therapeutics, disposed of company stock on three separate days.
• These transactions were not sales by Mr. Edris, but rather shares withheld by the company to cover tax obligations arising from the vesting of restricted stock units.
• On January 4, 2025, 6,934 shares were withheld at a price of $38.19 per share.
• On January 5, 2025, 5,561 shares were withheld at a price of $38.19 per share.
• On January 6, 2025, 4,416 shares were withheld at a price of $38.86 per share.
• Following these transactions, Mr. Edris directly owns 192,689 shares of SpringWorks Therapeutics stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation. It is neither positive nor negative for the company's performance, but is a normal part of operations.

Industry Context

This is a routine transaction related to executive compensation and is common practice for companies that issue stock-based compensation.

Comparison to Industry Standards

• Stock withholding for tax obligations is a standard practice across publicly traded companies.
• Many companies use restricted stock units as part of their compensation packages, which often trigger tax liabilities upon vesting.
• The process of withholding shares to cover these taxes is a common mechanism to simplify the process for employees.

Stakeholder Impact

• The transactions have a neutral impact on shareholders as they are not sales by the executive but rather a standard tax withholding process.

Key Dates

Keywords

SpringWorks Therapeutics, stock disposal, tax withholding, restricted stock units, insider trading, Form 4, SWTX, Badreddin Edris