Form 4: Sutro Biopharma Executive Anne Elizabeth Borgman Reports Stock Transactions

Chief Medical Officer Anne Elizabeth Borgman reports the vesting and subsequent tax withholding of shares related to restricted stock units.

Summary

• On February 29, 2024, Anne Elizabeth Borgman, Chief Medical Officer of Sutro Biopharma, Inc., had 37,500 shares of common stock vest from restricted stock units (RSUs).
• Ms. Borgman disposed of 37,500 shares related to the vesting of the RSUs.
• 13,126 shares were withheld by Sutro Biopharma to cover income tax obligations at a price of $4.91 per share.
• Following these transactions, Ms. Borgman directly owns 24,374 shares of Sutro Biopharma common stock.
• Ms. Borgman also holds 112,500 restricted stock units.

Sentiment

Score: 5

Explanation: This is a routine disclosure of stock transactions by a company insider. It doesn't inherently indicate positive or negative sentiment, but rather reflects standard compensation practices and regulatory requirements.

Future Outlook

The RSU award vests as to 1/4th of the total award annually on the last calendar day of February, beginning on February 29, 2024, subject to continued service through each vesting date.

Industry Context

Form 4 filings are standard disclosures required by the SEC when company insiders, like officers and directors, trade their company's stock. These filings provide transparency to the market regarding insider activity.

Stakeholder Impact

• The transaction impacts shareholders by increasing the number of shares outstanding, although the effect is minimal given the relatively small number of shares involved.
• The transaction impacts the reporting person by increasing their ownership of company stock.

Key Dates