Form 4: Vanda Pharmaceuticals CFO Kevin Patrick Moran Sells Shares to Cover Tax Obligations

Kevin Patrick Moran, SVP, CFO & Treasurer of Vanda Pharmaceuticals, sold shares of common stock on March 4th and 5th, 2024, to cover tax obligations related to the settlement of vested RSUs.

Summary

• Kevin Patrick Moran, the SVP, CFO & Treasurer of Vanda Pharmaceuticals, sold shares of the company's common stock on March 4th and 5th, 2024.
• The sales were executed to satisfy tax obligations related to the acquisition of shares from the settlement of vested Restricted Stock Units (RSUs).
• On March 4th, 5,798 shares were sold at a weighted average price of $4.4812.
• On March 5th, 8,902 shares were sold at a weighted average price of $4.2025.
• Following these transactions, Moran directly owns 231,014 shares and indirectly owns 635 shares through his wife.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine transactions. The sentiment is neutral as it reflects normal executive compensation practices.

Industry Context

Sales of shares by company executives are a common occurrence, often related to compensation and tax obligations. It's important to consider the size of the sale relative to the executive's total holdings and the overall trading volume of the stock.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to have a significant long-term effect.

Key Dates