Form 4: Xencor Inc. Director Kevin Charles Gorman Sells Shares to Cover Tax Obligations

Kevin Charles Gorman, a director at Xencor Inc., sold 2,654 shares of common stock on September 27, 2024, to cover withholding taxes upon the vesting of restricted stock units.

Summary

• On September 27, 2024, Kevin Charles Gorman, a director of Xencor Inc., sold 2,654 shares of the company's 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 related to the vesting of restricted stock units.
• Following the transaction, Gorman directly owns 8,392 shares of Xencor Inc. common stock.

Sentiment

Score: 5

Explanation: The document describes a routine stock sale by a company director to cover tax obligations. It 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 suggests the insider planned the transaction in advance to avoid accusations of trading on inside information.

Stakeholder Impact

• The sale of shares by a director could have a minor impact on shareholder sentiment, but the pre-arranged nature of the sale mitigates potential concerns.

Key Dates