Form 4: Xeris Biopharma Holdings Executive Beth Hecht Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Beth Hecht, Chief Legal Officer and Corporate Secretary of Xeris Biopharma Holdings, reports changes in beneficial ownership due to tax withholding on vested RSUs and participation in the employee stock purchase plan.
Summary
- Beth Hecht, Chief Legal Officer and Corporate Secretary of Xeris Biopharma Holdings, filed a Form 4 detailing changes in her beneficial ownership of the company's common stock.
- The reported transactions primarily involve the withholding of shares by the issuer to satisfy income tax obligations related to the net settlement of Restricted Stock Units (RSUs) that vested on various dates.
- These dates include January 29, 2022, January 31, 2022, January 3, 2023, January 29, 2023, January 31, 2023, January 3, 2024, January 29, 2024 and January 31, 2024.
- Additionally, the report indicates the purchase of 3,840 shares on June 30, 2024, through participation in the company's 2018 Employee Stock Purchase Plan.
- Following these transactions, Hecht's directly owned shares decreased from 1,544,771 to 1,380,802.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing primarily reflects routine transactions related to compensation and tax obligations. The late filing is a minor negative, but overall, the information is not indicative of significant positive or negative developments.
Positives
- The reporting individual's participation in the Employee Stock Purchase Plan indicates confidence in the company's future.
Negatives
- The Form 4 filing was submitted late due to administrative oversight.
Risks
- Administrative oversights in reporting requirements could lead to regulatory scrutiny.
Industry Context
Form 4 filings are a routine part of compliance for publicly traded companies, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The changes in ownership are unlikely to have a significant impact on stakeholders.
Key Dates
| Date | Description |
|---|---|
| 01/29/2022 | RSUs vested, shares withheld for tax obligations. |
| 01/31/2022 | RSUs vested, shares withheld for tax obligations. |
| 01/03/2023 | RSUs vested, shares withheld for tax obligations. |
| 01/29/2023 | RSUs vested, shares withheld for tax obligations. |
| 01/31/2023 | RSUs vested, shares withheld for tax obligations. |
| 01/03/2024 | RSUs vested, shares withheld for tax obligations. |
| 01/29/2024 | RSUs vested, shares withheld for tax obligations. |
| 01/31/2024 | RSUs vested, shares withheld for tax obligations. |
| 06/30/2024 | Purchase of shares through Employee Stock Purchase Plan. |
| 08/09/2024 | Date of Form 4 filing. |
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