Form 4: Twist Bioscience CEO Emily Leproust Sells Shares to Cover Tax Obligations
SEC Form 4
Emily Leproust, CEO of Twist Bioscience, sold 2,402 shares of common stock at $40.913 per share to cover tax withholding obligations related to vesting Restricted Stock Units.
Summary
- On March 6, 2025, Emily M. Leproust, CEO of Twist Bioscience, sold 2,402 shares of common stock at a price of $40.913 per share.
- The sale was executed to cover tax withholding obligations associated with the vesting of Restricted Stock Units.
- Following the transaction, Leproust directly owns 662,692 shares of Twist Bioscience common stock.
- Leproust also holds various employee stock options with different exercise prices and expiration dates.
- These options include those exercisable at $5.95, $8.82, $26.66, $23.33, and $67.85.
- Some options are immediately exercisable, while others vest over time based on continued service.
- Performance stock options granted on September 1, 2020, vested on December 19, 2022, due to the achievement of applicable performance criteria.
Sentiment
Score: 6
Explanation: The document is a standard Form 4 filing, indicating a routine stock sale for tax purposes. It doesn't convey strong positive or negative sentiment.
Industry Context
Executive stock sales are a common occurrence, often related to compensation, diversification, or tax obligations. The sale itself doesn't necessarily indicate a negative outlook for the company.
Comparison to Industry Standards
- Executive compensation packages often include stock options and restricted stock units, which vest over time and are subject to tax implications upon vesting.
- Companies like Illumina, Agilent, and Thermo Fisher Scientific also have executives who periodically sell shares for similar reasons.
- The size of the sale (2,402 shares) is relatively small compared to the total shares beneficially owned (662,692), suggesting it's primarily for tax purposes.
Stakeholder Impact
- The sale is unlikely to have a significant impact on shareholders, as it's a small transaction related to tax obligations.
- Employees may be interested in executive stock transactions, but this particular sale is unlikely to affect morale or company operations.
Key Dates
| Date | Description |
|---|---|
| 09/01/2016 | 25% of shares subject to $5.95 option vested |
| 09/28/2017 | 10% of shares subject to $8.82 option vested |
| 09/28/2018 | 15% of shares subject to $8.82 option vested |
| 10/31/2019 | 20% of shares subject to $26.66 option vested |
| 10/24/2020 | 25% of shares subject to $23.33 option vested |
| 09/01/2020 | Performance stock options granted |
| 12/19/2022 | Performance stock options vested |
| 03/06/2025 | Sale of 2,402 shares at $40.913 |
| 03/10/2025 | Date of Form 4 signature |
| 09/28/2025 | Expiration date of $5.95 option |
| 09/28/2027 | Expiration date of $8.82 option |
| 11/18/2028 | Expiration date of $26.66 option |
| 10/23/2029 | Expiration date of $23.33 option |
| 08/31/2030 | Expiration date of $67.85 option |
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