Form 4: Twist Bioscience President and COO Executes Non-Discretionary Stock Sale for Tax Obligations
Insider Transaction Report
Patrick John Finn, President and COO of Twist Bioscience Corp., sold 1,877 shares of common stock at $29.747 per share to cover tax withholding obligations related to Restricted Stock Units vesting, a non-discretionary transaction.
Summary
- Patrick John Finn, President and COO of Twist Bioscience Corp. (TWST), sold 1,877 shares of the company's common stock on May 21, 2025.
- The shares were sold at a price of $29.747 per share.
- This transaction was a "sell to cover" sale, mandated by the issuer's equity incentive plans to satisfy tax withholding obligations upon the vesting of Restricted Stock Units.
- The sale was not a discretionary trade by Mr. Finn.
- Following this transaction, Mr. Finn beneficially owns 240,783 shares of Twist Bioscience common stock.
Sentiment
Score: 5
Explanation: The transaction is a routine 'sell to cover' for tax obligations, explicitly stated as non-discretionary. This type of transaction is neutral in sentiment as it does not reflect a change in management's discretionary view of the company's prospects.
Future Outlook
NA
Management Comments
- The sale represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of Restricted Stock Units.
- These 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
This filing is a routine insider transaction disclosure specific to Twist Bioscience Corp. and does not provide broader industry context or trends.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Delegation of Authority | Patrick Finn, President and COO, granted Power of Attorney to Dennis Cho, Judy Yan, and Kendra Fox to execute and file SEC Forms 3, 4, and 5 on his behalf, manage his EDGAR account, and obtain transaction information. | 05/08/2025 | This is a standard corporate governance practice to facilitate timely and accurate SEC filings for Section 16 reporting persons, ensuring compliance with regulatory requirements. It does not indicate a change in corporate policy or structure, but rather a procedural delegation. |
Stakeholder Impact
- Shareholders: Minimal direct impact as the sale is non-discretionary and for tax purposes, not indicative of a change in management's confidence or a significant divestment.
- Employees: No direct impact mentioned.
Key Dates
| Date | Description |
|---|---|
| 05/08/2025 | Date Power of Attorney was executed by Patrick Finn. |
| 05/21/2025 | Date of the reported stock transaction (sale of common stock). |
| 05/23/2025 | Date the Form 4 was signed by the attorney-in-fact. |
Keywords
Twist Bioscience, TWST, SEC Form 4, Insider Trading, Stock Sale, Restricted Stock Units, RSU, Tax Withholding, Sell to Cover, Corporate Officer, Patrick John Finn
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