Form 4: Surmodics Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
A Surmodics executive sold 1,030 shares of common stock to cover tax obligations related to stock awards.
Summary
- Gordon S. Weber, a Senior Vice President at Surmodics, sold 1,030 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, Weber directly owns 21,708 shares of Surmodics stock.
- The reported holdings include 324 shares acquired through the Employee Stock Purchase Plan for the phase ending 2/29/24 and 349 shares acquired for the phase ending 8/31/24.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction by an executive to manage their stock holdings and tax obligations. It 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 after vesting or exercising options.
Comparison to Industry Standards
- Executive stock sales are a common occurrence in publicly traded companies, particularly around vesting periods or to cover tax liabilities.
- The sale by Gordon S. Weber is consistent with standard practices for executives managing their personal finances and stock holdings.
- Similar transactions are regularly reported by executives at comparable companies in the medical device industry.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale by an executive.
- There is no direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 2024-02-29 | End date of a phase of the Employee Stock Purchase Plan where 324 shares were acquired. |
| 2024-08-31 | End date of a phase of the Employee Stock Purchase Plan where 349 shares were acquired. |
| 2024-11-30 | Date of the stock sale transaction. |
| 2024-12-03 | Date the Form 4 was signed. |
Keywords
Surmodics, insider trading, stock sale, executive, Form 4, SRDX, Gordon S. Weber, employee stock purchase plan
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