Form 4: Sutro Biopharma Executive Reports Stock Transactions
SEC Form 4 Filing
Venkatesh Srinivasan, Chief Technical Operations Officer of Sutro Biopharma, reports the vesting and subsequent tax withholding of shares.
Summary
- On March 1, 2024, Venkatesh Srinivasan, Chief Technical Operations Officer of Sutro Biopharma, had 5,000 shares of common stock vest from Restricted Stock Units (RSUs).
- The company withheld 2,049 shares to cover income tax obligations at a price of $4.95 per share.
- Following these transactions, Srinivasan directly owns 16,454 shares of common stock and 15,000 RSUs.
- The RSUs vest in four equal annual installments starting March 1, 2024.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard compensation practices; therefore, the sentiment is neutral.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, ensuring fair market practices.
Stakeholder Impact
- Shareholders are informed about executive compensation and stock ownership.
- Employees, specifically the executive, are impacted by the vesting of stock options and related tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Date of transaction: vesting of RSUs and tax withholding. |
| 03/01/2024 | First vesting date for the RSU award (1/4th of the total award). |
| 03/01/2027 | Expiration date of the Restricted Stock Units. |
| 03/05/2024 | Date of Form 4 filing. |
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