Form 4: Xencor Director Kurt A. Gustafson Sells Shares to Cover Tax Obligations
SEC Form 4
Director Kurt A. Gustafson sold 2,503 shares of Xencor Inc. stock on September 27, 2024, to cover withholding taxes related to vesting restricted stock units.
Summary
- On September 27, 2024, Kurt A. Gustafson, a director of Xencor Inc. (XNCR), sold 2,503 shares of common stock.
- The sale was executed at a price of $20.68 per share.
- The transaction was conducted under a pre-arranged 10b5-1 plan to cover withholding taxes associated with the vesting of restricted stock units.
- Following the transaction, Gustafson directly owns 9,490 shares of Xencor Inc.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports a routine stock sale for tax purposes under a pre-arranged plan. It doesn't indicate any positive or negative outlook for the company.
Industry Context
Sales by insiders are a normal part of corporate governance, especially when related to covering tax obligations from equity compensation. The use of a 10b5-1 plan indicates the sale was pre-planned and not based on current market information.
Stakeholder Impact
- The sale is unlikely to have a significant impact on stakeholders as it is a relatively small transaction by a single director to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 09/27/2024 | Date of stock sale transaction. |
| 10/01/2024 | Date of signature on the Form 4 filing. |
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