Form 4: Theravance Biopharma CEO Gifts Shares to Grandchildren's Custodial Account
Insider Transaction Report
Theravance Biopharma CEO Rick E. Winningham reported gifting 9,600 ordinary shares to a custodial account for his grandchildren, disclaiming beneficial ownership of these shares.
Summary
- Rick E. Winningham, Chief Executive Officer and Director of Theravance Biopharma, Inc. (TBPH), reported a transaction on June 13, 2025.
- He disposed of 9,600 ordinary shares from his direct holdings as a gift (transaction code 'G') at a price of $0.
- Concurrently, 9,600 ordinary shares were acquired into a custodial account established under the Uniform Transfer to Minors Act (UTMA) for his grandchildren, for which he serves as custodian, also at a price of $0.
- Following these transactions, Mr. Winningham directly holds 1,753,180 ordinary shares.
- He indirectly holds 13,500 ordinary shares as custodian for the UTMA account, but explicitly disclaims beneficial ownership of these shares.
- Additionally, he indirectly holds 92,567 ordinary shares through a trust.
Sentiment
Score: 5
Explanation: The document reports a routine insider transaction (a gift of shares) which is a personal financial planning decision and does not reflect positively or negatively on the company's operational or financial performance.
Management Comments
- The Reporting Person disclaims beneficial ownership of these shares, and this report should not be deemed an admission that the Reporting Person is the beneficial owner of his grandchildren's shares for purposes of Section 16 or for any other purpose.
Industry Context
This Form 4 filing details an individual insider transaction and does not provide broader industry context or trends.
Related Party Transactions
- Gift of 9,600 ordinary shares by CEO Rick E. Winningham to a custodial account established pursuant to the Uniform Transfer to Minors Act (UTMA) for his grandchildren, for which he serves as custodian.
Stakeholder Impact
- Minimal impact on shareholders as this represents a personal financial planning decision by the CEO and not a sale for cash, a change in company strategy, or a significant dilution event.
Key Dates
| Date | Description |
|---|---|
| 06/13/2025 | Date of the share gift transaction by Rick E. Winningham. |
| 06/17/2025 | Date the Form 4 was signed by Brett A. Grimaud, Attorney-in-Fact for Rick E. Winningham. |
Keywords
Theravance Biopharma, TBPH, SEC Form 4, insider transaction, share gift, Rick E. Winningham, CEO, director, beneficial ownership, custodial account, UTMA
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