Form 4: Surmodics CEO Gary Maharaj Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Surmodics CEO Gary Maharaj sold 6,470 shares of common stock to cover tax obligations related to stock awards.
Summary
- Gary Maharaj, the President and CEO of Surmodics Inc., sold 6,470 shares of common stock on November 30, 2024.
- The sale was executed at a price of $39.45 per share.
- This transaction was to cover tax obligations related to stock awards.
- Following the transaction, Mr. Maharaj directly owns 196,304 shares of Surmodics common stock.
- This includes 192 shares acquired through the Employee Stock Purchase Plan for the phase ending on August 31, 2024.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction for tax purposes, which is neither positive nor negative for the company's outlook.
Industry Context
This is a routine transaction for executives to manage their tax obligations related to stock-based compensation. It is common for executives to sell shares to cover these obligations.
Comparison to Industry Standards
- Executive stock sales to cover tax obligations are a common practice across publicly traded companies.
- The amount of shares sold is relatively small compared to the total holdings of the CEO, suggesting this is a routine transaction rather than a significant divestment.
- Similar transactions are regularly reported by executives at comparable companies in the medical device industry.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on shareholders as it is a routine sale for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 08/31/2024 | End date of the phase for the Employee Stock Purchase Plan, where 192 shares were acquired. |
| 11/30/2024 | Date of the stock sale transaction by Gary Maharaj. |
| 12/03/2024 | Date the Form 4 was signed. |
Keywords
Surmodics, Gary Maharaj, stock sale, insider trading, Form 4, executive compensation, tax obligations, employee stock purchase plan
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