Form 4: Sutro Biopharma CFO Edward Albini Reports Changes in Beneficial Ownership Following Accelerated Vesting of Equity Awards
SEC Form 4 Filing
Edward Albini, CFO and Secretary of Sutro Biopharma, reports changes in beneficial ownership due to the accelerated vesting of restricted stock units (RSUs) in connection with his separation from the company.
Summary
- On May 15, 2025, Edward Albini, CFO and Secretary of Sutro Biopharma, reported changes in his beneficial ownership of the company's common stock and restricted stock units (RSUs).
- These changes are due to the accelerated vesting of certain equity awards in connection with his separation and transition from his position with the issuer, as previously reported on March 13, 2025.
- The transactions involved the vesting of 24,438 RSUs, 11,156 RSUs, and 9,125 RSUs, which converted into common stock.
- The issuer withheld 15,995 shares of common stock to satisfy income tax withholding obligations.
- Following these transactions, Albini directly owns 160,805 shares of common stock, 27,312 RSUs, and 4,594 RSUs.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document primarily reports transactions related to executive compensation and a previously announced separation. There is no indication of positive or negative impact on the company's overall prospects.
Future Outlook
The document does not contain any specific forward-looking statements regarding the company's future performance.
Industry Context
This filing is a routine disclosure related to executive compensation and changes in ownership, which is common in the biopharmaceutical industry, especially during executive transitions.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| CFO AND SECRETARY | Edward C. Albini | Previously reported on March 13, 2025 | Separation and transition from his position with the issuer |
Stakeholder Impact
- Shareholders may be interested in changes in executive ownership, but the impact is likely minimal given the context of the executive's departure.
- Employees may be affected by the change in leadership, but the document does not provide specific details on the impact.
Key Dates
| Date | Description |
|---|---|
| March 4, 2023 | RSUs vest as to 1/4th of the total award annually beginning on this date. |
| March 1, 2024 | RSUs vest as to 1/4th of the total shares annually beginning on this date. |
| March 13, 2025 | Issuer reported Albini's separation and transition from his position with the issuer in its Current Report filed with the Securities and Exchange Commission on Form 8-K. |
| March 1, 2025 | RSUs vest as to 1/4th of the total award annually beginning on this date. |
| May 15, 2025 | Date of the reported transactions involving the vesting of RSUs and changes in beneficial ownership. |
| May 19, 2025 | Date of signature for the Form 4 filing. |
| March 4, 2026 | Expiration date for RSUs vesting as to 1/4th of the total award annually beginning on March 4, 2023. |
| March 1, 2027 | Expiration date for RSUs vesting as to 1/4th of the total shares annually beginning on March 1, 2024. |
| March 1, 2028 | Expiration date for RSUs vesting as to 1/4th of the total award annually beginning on March 1, 2025. |
Keywords
beneficial ownership, Form 4, Sutro Biopharma, Edward Albini, CFO, restricted stock units, RSUs, equity awards, vesting, separation
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