Form 4: Tenaya Therapeutics Executive Sells Shares to Cover Tax Obligations

A Tenaya Therapeutics executive sold 2,258 shares of common stock at $2.12 per share to cover tax obligations related to vesting restricted stock units.

Summary

• Chihiro Saito, SVP of Accounting and Financial Operations at Tenaya Therapeutics, sold 2,258 shares of common stock on November 18, 2024.
• The shares were sold at a price of $2.12 per share.
• This transaction was to cover tax withholding obligations associated with the vesting of restricted stock units awarded on August 15, 2024.
• Following the transaction, Saito beneficially owns 60,983 shares, which includes 45,168 shares that will be issued upon vesting of restricted stock units.

Sentiment

Score: 5

Explanation: The document describes a routine transaction related to executive compensation and does not indicate any positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Sales of shares by executives to cover tax obligations are a common practice across the industry.
• The number of shares sold and the price are not unusual for this type of transaction.
• Similar transactions are regularly reported by executives at other biotech companies.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Tenaya Therapeutics, stock sale, insider trading, Form 4, restricted stock units, tax obligations, equity compensation