Form 4: Xencor Director Ellen Feigal Sells Shares to Cover Tax Obligations

Director Ellen Feigal sold 2,503 shares of Xencor Inc. stock on September 27, 2024, to cover withholding taxes related to the vesting of restricted stock units.

Summary

• On September 27, 2024, Ellen Feigal, a director of Xencor Inc., sold 2,503 shares of common stock at a price of $20.68 per share.
• The sale was executed under a pre-arranged 10b5-1 trading plan to cover withholding taxes associated with the vesting of restricted stock units.
• Following the transaction, Feigal directly owns 8,490 shares of Xencor Inc. common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction (stock sale for tax purposes) and doesn't indicate any significant positive or negative sentiment.

Industry Context

Sales by insiders are a common occurrence, especially when tied to tax obligations from vesting equity. The use of a 10b5-1 plan indicates the sale was pre-planned and not based on current market information.

Comparison to Industry Standards

• Sales of shares to cover tax obligations are a normal part of equity compensation.
• The use of a 10b5-1 plan is a common practice among corporate insiders to avoid accusations of insider trading.
• Comparable companies such as Amgen, Regeneron, and Biogen also see similar transactions from their directors and officers.

Stakeholder Impact

• The sale of shares by a director could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale and the relatively small number of shares involved.

Key Dates