Form 4: Ultragenyx CFO Howard Horn Sells Shares to Cover Tax Obligations

Ultragenyx Pharmaceutical Inc.'s CFO, Howard Horn, sold 7,465 shares of common stock on October 10, 2024, to cover tax withholdings related to vesting RSUs.

Summary

• On October 10, 2024, Howard Horn, the Chief Financial Officer of Ultragenyx Pharmaceutical Inc., sold 7,465 shares of the company's common stock.
• The sale was executed at a price of $52.76 per share.
• The transaction was conducted to cover required tax withholdings due to the vesting of Restricted Stock Units (RSUs).
• Following the transaction, Horn directly owns 92,301 shares of Ultragenyx common stock, including shares underlying previously granted RSUs that are subject to vesting conditions.

Sentiment

Score: 6

Explanation: The document describes a routine transaction (stock sale for tax purposes) by a company executive. It doesn't inherently convey positive or negative sentiment regarding the company's prospects.

Industry Context

Sales of shares to cover tax obligations upon vesting of RSUs are a common practice among corporate executives. This transaction is a routine financial activity and doesn't necessarily indicate a change in the executive's confidence in the company.

Comparison to Industry Standards

• Executive stock sales for tax purposes are a common practice across the pharmaceutical industry.
• Companies like Amgen, Gilead Sciences, and Biogen often see similar transactions by their executives.
• These sales are typically viewed as personal financial management rather than indicators of company performance.

Key Dates