Form 4: Sutro Biopharma Executive Linda Fitzpatrick Reports Changes in Beneficial Ownership Following Separation
SEC Form 4
Linda Fitzpatrick, Chief People & Communications Officer of Sutro Biopharma, reports changes in her beneficial ownership of company stock and restricted stock units (RSUs) due to accelerated vesting upon her separation from the company.
Summary
- Linda Fitzpatrick, Chief People & Communications Officer of Sutro Biopharma, filed a Form 4 detailing changes in her beneficial ownership of the company's stock.
- The filing reflects transactions on May 1, 2025, related to the vesting and withholding of common stock and restricted stock units (RSUs).
- Fitzpatrick acquired shares through the vesting of RSUs, and a portion of these shares were withheld by the issuer to cover income tax obligations.
- The reported transactions include the accelerated vesting of certain equity awards in connection with her separation from her position with the issuer.
- Following the reported transactions, Fitzpatrick directly owns 119,744 shares of common stock and indirectly owns 10,383 shares through a family trust.
- She also holds 4,010 RSUs that vest beginning March 1, 2024, and 6,531 RSUs that vest beginning March 1, 2025.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing reflecting a routine transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and changes in ownership, common in the biopharmaceutical industry.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| CHIEF PEOPLE & COMM. OFFICER | Linda A. Fitzpatrick | TBD | 05/01/2025 | Separation from the company |
Stakeholder Impact
- Shareholders may be interested in changes in executive ownership.
- Employees may be affected by the departure of a key executive.
Key Dates
| Date | Description |
|---|---|
| 10/13/1997 | Date of the Michael A. & Linda A. Fitzpatrick Family Trust |
| 03/04/2023 | Initial vesting date for some RSUs (1/4th of total shares annually) |
| 03/01/2024 | Initial vesting date for some RSUs (1/4th of total shares annually) |
| 03/01/2025 | Initial vesting date for some RSUs (1/4th of total award annually) |
| 05/01/2025 | Date of transactions reported in the Form 4 |
| 03/04/2026 | Expiration date for some RSUs |
| 03/01/2027 | Expiration date for some RSUs |
| 03/01/2028 | Expiration date for some RSUs |
| 05/05/2025 | Date of signature on the Form 4 |
Keywords
Form 4, Beneficial Ownership, Sutro Biopharma, STRO, Linda Fitzpatrick, Restricted Stock Units, RSU, Equity Awards, Vesting, Separation
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