Allogene (ALLO) SVP executes 7,132-share tax sell-to-cover trade
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Allogene Therapeutics, Inc. senior vice president and chief technical officer Benjamin Machinas Beneski reported a mandatory sale of common stock to cover taxes on vested restricted stock units. He sold 7,132 shares in a sell-to-cover transaction at a weighted average price of $2.60 per share, with individual sale prices ranging from $2.60 to $2.67. After this tax-related sale, he directly owned 203,040 shares of Allogene common stock. The filing notes this transaction was required under the company’s equity incentive plan and did not represent a discretionary trade by the executive.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 7,132 shares ($18,543)
Net Sell
1 txn
Insider
Beneski Benjamin Machinas
Role
SVP, Chief Technical Officer
Sold
7,132 shs ($19K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 7,132 | $2.60 | $19K |
Holdings After Transaction:
Common Stock — 203,040 shares (Direct)
Footnotes (1)
- Represents the number of shares sold by the reporting person to cover tax withholding obligations in connection with the vesting of restricted stock units. This sale is mandated by the Issuer's election under its equity incentive plan to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the reporting person. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.60 to $2.67, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
FAQ
What insider transaction did Allogene Therapeutics (ALLO) report for Benjamin Machinas Beneski?
Allogene reported that executive Benjamin Machinas Beneski sold 7,132 common shares. The sale was a mandatory sell-to-cover transaction to satisfy tax withholding obligations linked to vesting restricted stock units under the company’s equity incentive plan.
Was the Allogene (ALLO) insider stock sale a discretionary trade?
No, the sale was not discretionary. The filing states the 7,132-share sale was mandated by Allogene’s equity incentive plan to cover tax withholding on vested restricted stock units, meaning the executive did not choose to sell the shares independently.
What role does Benjamin Machinas Beneski hold at Allogene Therapeutics (ALLO)?
Benjamin Machinas Beneski serves as senior vice president and chief technical officer at Allogene Therapeutics. His position is identified in the Form 4, which reports his equity transaction and clarifies it was executed to cover tax obligations on restricted stock units.
Why did Allogene (ALLO) disclose weighted average sale prices in the Form 4 footnotes?
The filing reports a weighted average sale price of $2.60 because shares were sold in multiple trades between $2.60 and $2.67. Footnotes state the insider will provide detailed trade information, including exact share counts at each price, upon request.