Form 4: Twist Bioscience Executive Sells Shares to Cover Tax Obligations

A Twist Bioscience executive sold shares to cover tax obligations related to the vesting of restricted stock units.

Summary

• Dennis Cho, Senior Vice President, Chief Legal Officer & Corporate Secretary at Twist Bioscience Corp, sold 367 shares of common stock.
• The sale was executed on December 6, 2024, at a price of $52.704 per share.
• The total value of the shares sold was $113,620.
• This sale was not a discretionary trade but was mandated by the company's equity incentive plan to cover tax withholding obligations.
• The shares were sold to cover tax obligations related to the vesting of Restricted Stock Units.

Sentiment

Score: 5

Explanation: The document describes a routine transaction related to executive compensation and tax obligations, which is neither positive nor negative for the company's overall performance.

Management Comments

• The sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of a tax withholding obligation to be funded by a 'sell to cover' transaction and do not represent discretionary trades by the Reporting Person.

Industry Context

Executive stock sales to cover tax obligations are a common practice in publicly traded companies, particularly when dealing with equity-based compensation.

Comparison to Industry Standards

• The 'sell to cover' mechanism is a standard practice in many companies to manage tax obligations related to equity compensation.
• The number of shares sold and the value are relatively small compared to the overall market capitalization of Twist Bioscience, suggesting this is a routine transaction.

Stakeholder Impact

• The sale has a minimal impact on shareholders as it is a routine transaction related to executive compensation.

Key Dates

Keywords

Twist Bioscience, stock sale, executive stock, restricted stock units, tax withholding, equity incentive plan, sell to cover