Form 4: Tyra Biosciences COO Daniel Bensen Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Daniel Bensen, Chief Operating Officer of Tyra Biosciences, sold shares of common stock between March 1 and March 5, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Daniel Bensen, the Chief Operating Officer of Tyra Biosciences, sold shares of the company's common stock.
- The sales occurred on March 1, March 4, and March 5, 2024.
- These transactions were executed under a Rule 10b5-1 trading plan adopted on December 7, 2022.
- On March 1, 2024, 2,900 shares were sold at a weighted average price of $20.0386, with prices ranging from $20.00 to $20.14.
- On March 4, 2024, 5,063 shares were sold at a weighted average price of $20.0778, with prices ranging from $20.00 to $20.44.
- On March 5, 2024, 1,189 shares were sold at a weighted average price of $20.0189, with prices ranging from $20.00 to $20.10.
- Following these transactions, Bensen directly owns 433,684 shares of Tyra Biosciences common stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating insider stock sales. The sentiment is neutral as it simply reports transactions without expressing any positive or negative outlook.
Industry Context
Sales by company insiders are a common occurrence and are often pre-planned through Rule 10b5-1 trading plans to avoid accusations of insider trading. The market typically views these sales in the context of the overall holdings of the insider and the reasons provided for the sale.
Stakeholder Impact
- Shareholders may interpret the stock sales as a lack of confidence in the company, although the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 2022-12-07 | Date of adoption of Rule 10b5-1 trading plan |
| 2024-03-01 | Date of first stock sale |
| 2024-03-04 | Date of second stock sale |
| 2024-03-05 | Date of third stock sale and filing date of Form 4 |
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