Form 4: Sutro Biopharma CEO William Newell Reports Stock Transactions
SEC Form 4 Filing
William Newell, CEO of Sutro Biopharma, reports the vesting and subsequent withholding of shares to cover tax obligations related to restricted stock units.
Summary
- On March 4, 2024, William J. Newell, CEO of Sutro Biopharma, engaged in transactions involving the company's common stock and restricted stock units (RSUs).
- 31,125 shares were acquired through the vesting of RSUs.
- 11,105 shares were withheld by Sutro Biopharma to cover income tax obligations related to the RSU vesting at a price of $4.79.
- Following these transactions, Newell directly owns 208,143 shares of common stock and indirectly owns 116,525 shares through the William J. Newell Family Trust DTD 03/15/2019.
- He also holds 62,250 RSUs.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and doesn't indicate any significant positive or negative sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track management's alignment with shareholder interests.
Stakeholder Impact
- The transactions have a minor impact on the total outstanding shares, and the tax withholding ensures compliance with regulations.
Key Dates
| Date | Description |
|---|---|
| 03/15/2019 | Date of the William J. Newell Family Trust. |
| 03/04/2023 | Initial vesting date for RSUs. |
| 03/04/2024 | Date of the reported transactions (RSU vesting and tax withholding). |
| 03/04/2026 | Expiration date for the Restricted Stock Units. |
| 03/06/2024 | Date of signature for the SEC filing. |
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