Form 4: Theravance Biopharma Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Brett A. Grimaud, SVP, General Counsel, and Secretary of Theravance Biopharma, Inc., disposed of 9,268 shares to cover tax obligations arising from vesting restricted stock units.
Summary
- On May 20, 2024, Brett A. Grimaud, SVP, General Counsel, and Secretary of Theravance Biopharma, Inc., disposed of 9,268 ordinary shares.
- The shares were withheld to satisfy tax obligations related to the vesting of previously granted restricted stock units.
- The transaction was conducted with the issuer and did not involve an open market transaction.
- Following the transaction, Grimaud beneficially owns 351,881 ordinary shares, which includes 465 shares acquired under the Theravance Biopharma, Inc. 2013 Employee Share Purchase Plan on May 15, 2024.
Sentiment
Score: 5
Explanation: Neutral sentiment as the transaction is a routine sale of shares to cover tax obligations, which is a common practice for executives.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track executive sentiment and potential alignment with shareholder interests. This transaction is a routine sale to cover tax obligations.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a routine sale of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| May 15, 2024 | 465 shares acquired under the Theravance Biopharma, Inc. 2013 Employee Share Purchase Plan |
| May 20, 2024 | Disposal of 9,268 ordinary shares to cover tax obligations |
| May 22, 2024 | Date of signature for the Form 4 filing |
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