Form 4: Trevena Inc. Acting CMO, Mark Demitrack, Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Mark Demitrack, Acting CMO of Trevena Inc., reports the disposal of common stock to cover tax obligations upon the vesting of restricted stock units.
Summary
- On October 8, 2024, Mark Demitrack, the Acting CMO of Trevena Inc., filed a Form 4 to report changes in beneficial ownership of the company's common stock.
- The transactions involved the disposal of shares to satisfy tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs) and performance stock units.
- A total of 885 shares were disposed of at a price of $1.47 per share to cover these tax obligations.
- Following these transactions, Demitrack directly owns 11,363 shares of Trevena Inc. common stock.
- The reported transactions reflect shares withheld for tax obligations related to RSUs granted on December 17, 2020, December 2, 2021, January 6, 2023, and December 14, 2023, as well as performance stock units granted on January 6, 2023.
- The issuer effected a 1-for-25 reverse stock split of its common stock on August 13, 2024, and the number of securities reported on this Form 4 has been adjusted to reflect the reverse stock split.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing (Form 4) detailing stock transactions by an insider. It doesn't inherently convey positive or negative sentiment, as it simply reports factual information about share disposals for tax purposes.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company insiders. The disposal of shares to cover tax obligations upon vesting of equity compensation is a common practice.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in ownership by a company insider.
Key Dates
| Date | Description |
|---|---|
| December 17, 2020 | Date of RSU grant related to tax withholding obligations. |
| December 2, 2021 | Date of RSU grant related to tax withholding obligations. |
| January 6, 2023 | Date of RSU and performance stock unit grants related to tax withholding obligations. |
| December 14, 2023 | Date of RSU grant related to tax withholding obligations. |
| August 13, 2024 | Date of 1-for-25 reverse stock split. |
| October 8, 2024 | Date of reported transactions (disposal of shares). |
| October 10, 2024 | Date of signature on the Form 4 filing. |
Keywords
Form 4, beneficial ownership, stock disposal, tax withholding, restricted stock units, performance stock units, TREVENA, TRVN, Mark Demitrack
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