Form 4: SpringWorks Therapeutics Executive Herschel S. Weinstein Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Herschel S. Weinstein, General Counsel & Secretary at SpringWorks Therapeutics, disposed of shares to cover tax obligations related to vesting restricted stock units.
Summary
- Herschel S. Weinstein, an officer at SpringWorks Therapeutics, disposed of a total of 9,126 shares of common stock between January 4th and January 6th, 2025.
- These transactions were not sales by Mr. Weinstein, but rather shares withheld by the company to cover tax obligations arising from the vesting of restricted stock units.
- The shares were disposed of at prices of $38.19 on January 4th and 5th, and $38.86 on January 6th.
- Following these transactions, Mr. Weinstein's direct holdings of SpringWorks Therapeutics common stock decreased to 43,113 shares.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to tax obligations, which is neither positive nor negative for the company's outlook. The sentiment is neutral to slightly positive as it indicates the vesting of stock options.
Industry Context
This is a routine filing related to stock transactions by a company officer, which is common in publicly traded companies. It is not indicative of any specific trend in the pharmaceutical industry.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, and this filing is consistent with those requirements.
- The tax withholding process is a common practice for companies that grant stock-based compensation to employees and executives.
- The share disposal is not a sale by the reporting person, but rather a transfer to the company to cover tax obligations, which is a standard practice.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to tax obligations and not a sale of shares by the executive.
Key Dates
| Date | Description |
|---|---|
| 01/04/2025 | 3,575 shares disposed of at $38.19 to cover tax obligations. |
| 01/05/2025 | 3,272 shares disposed of at $38.19 to cover tax obligations. |
| 01/06/2025 | 2,279 shares disposed of at $38.86 to cover tax obligations. |
| 01/07/2025 | Form 4 filing date. |
Keywords
SpringWorks Therapeutics, Herschel S. Weinstein, stock disposal, tax obligations, restricted stock units, insider trading, Form 4
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