Form 4: Unity Biotechnology CFO Lynne Sullivan Sells Shares to Cover Tax Obligations

Lynne Marie Sullivan, CFO of Unity Biotechnology, sold shares of common stock on August 2, 2024, to cover tax withholding obligations related to vesting Restricted Stock Units.

Summary

• Lynne Marie Sullivan, the CFO & Head of Corporate Development at Unity Biotechnology, Inc. (UBX), reported a transaction involving the sale of company stock.
• On August 2, 2024, Sullivan sold 139 shares of common stock at a price of $1.53 per share.
• The sale was executed under a Rule 10b5-1 trading plan to cover tax withholding obligations related to the vesting of Restricted Stock Units (RSUs).
• Following the transaction, Sullivan beneficially owns 56,061 shares of Unity Biotechnology, Inc.
• This total includes 23,515 shares purchased under the company's Employee Stock Purchase Plan (ESPP) on May 15, 2023, and May 15, 2024.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing a routine stock sale for tax purposes, indicating a neutral sentiment.

Industry Context

Form 4 filings are routine disclosures required by the SEC when company insiders, like the CFO, trade their company's stock. These filings provide transparency into insider transactions and are closely watched by investors.

Stakeholder Impact

• The stock sale by an insider could have a minor negative impact on shareholder sentiment, but is unlikely to have a significant impact as it was to cover tax obligations.

Key Dates