Form 4: Theravance Biopharma CEO Rick Winningham Reports Share Disposal for Tax Obligations
SEC Form 4 Filing
CEO Rick Winningham of Theravance Biopharma reports disposing of shares to cover tax obligations related to vested restricted stock units.
Summary
- On May 20, 2024, Rick E Winningham, CEO of Theravance Biopharma, disposed of 15,997 ordinary shares to satisfy tax obligations.
- The shares were withheld by the issuer at a price of $9.1 per share.
- Following the transaction, Winningham directly owns 1,836,644 ordinary shares.
- Winningham also indirectly owns 3,900 ordinary shares as custodian and 92,567 ordinary shares by trust.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing relates to a routine transaction for tax purposes.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| 05/20/2024 | Date of share disposal transaction |
| 05/22/2024 | Date of signature on the Form 4 filing |
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