Form 4: Synlogic Executive Mary Beth Dooley Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Mary Beth Dooley, Principal Executive Officer and Principal Financial Officer of Synlogic, Inc., sold 144 shares of common stock on April 2, 2025, to cover tax liabilities associated with vesting restricted stock awards.
Summary
- On April 2, 2025, Mary Beth Dooley, a Principal Executive Officer and Principal Financial Officer at Synlogic, Inc., sold 144 shares of the company's common stock.
- The sale was executed at a price of $1.2 per share.
- This transaction was conducted to cover the tax liability resulting from the vesting of three restricted stock awards on April 1, 2025.
- These awards were initially granted in 2021, 2022, and 2023.
- Following the transaction, Dooley directly owns 12,901 shares of Synlogic, Inc.
Sentiment
Score: 6
Explanation: The document describes a routine transaction (stock sale for tax purposes) by an executive. It doesn't indicate any significant positive or negative developments for the company. Therefore, the sentiment is neutral.
Industry Context
Executive stock sales to cover tax obligations are a common practice, particularly after the vesting of equity-based compensation. This is a routine transaction and doesn't necessarily reflect a change in the executive's confidence in the company.
Comparison to Industry Standards
- Executive compensation practices, including the granting and vesting of restricted stock, are standard across the biotechnology industry.
- Companies like Amgen, Gilead Sciences, and Biogen also utilize equity-based compensation to align executive interests with shareholder value.
- The number of shares sold and the timing of the sale are typical for covering tax liabilities associated with vesting events.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors, as it is a routine sale of shares by an executive for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 2021 | One of the restricted stock awards was granted. |
| 2022 | One of the restricted stock awards was granted. |
| 2023 | One of the restricted stock awards was granted. |
| 04/01/2025 | Restricted stock awards vested. |
| 04/02/2025 | Date of stock sale by Mary Beth Dooley. |
| 04/03/2025 | Date of signature on the Form 4 filing. |
Keywords
Synlogic, Mary Beth Dooley, stock sale, Form 4, restricted stock, tax liability, SYBX, executive compensation
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