Form 4: Vanda Pharmaceuticals SVP & General Counsel Sells Shares to Cover Tax Obligations

Timothy Williams, SVP & General Counsel of Vanda Pharmaceuticals, sold shares of common stock on March 4th and 5th, 2024, to cover tax obligations related to the vesting of Restricted Stock Units (RSUs).

Summary

• Timothy Williams, the SVP & General Counsel of Vanda Pharmaceuticals, sold shares of the company's common stock on March 4th and March 5th, 2024.
• The sales were executed to satisfy tax obligations related to the acquisition of shares from vested Restricted Stock Units (RSUs).
• On March 4th, 8,147 shares were sold at a weighted average price of $4.4086, with prices ranging from $4.405 to $4.412.
• On March 5th, 8,941 shares were sold at a weighted average price of $4.1825, with prices ranging from $4.175 to $4.1901.
• Following these transactions, Williams directly owns 196,825 shares of Vanda Pharmaceuticals' common stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine stock sales for tax purposes. It doesn't convey strong positive or negative sentiment.

Industry Context

Sales of shares to cover tax obligations after RSU vesting are a common practice among company executives and are generally not indicative of a negative outlook on the company.

Stakeholder Impact

• The stock sales could have a minor, temporary impact on the stock price.

Key Dates