Bicycle Therapeutics (BCYC) CSO executes small RSU tax sell-to-cover trades
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Bicycle Therapeutics plc Chief Scientific Officer Michael Skynner reported two small open-market sales of Ordinary Shares tied to tax withholding on vested equity awards. On July 2, 2026, he sold 1,859 shares at a weighted average price of $4.27 per share, followed by 532 shares on July 6, 2026 at a weighted average price of $4.31. A footnote explains these transactions were required "sell to cover" sales to satisfy statutory tax withholding obligations related to RSU vesting and were not discretionary. After these sales, Skynner directly held 157,171 Ordinary Shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 2,391 shares ($10,231)
Net Sell
2 txns
Insider
Skynner Michael
Role
CHIEF SCIENTIFIC OFFICER
Sold
2,391 shs ($10K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Ordinary Shares | 532 | $4.31 | $2K |
| Sale | Ordinary Shares | 1,859 | $4.27 | $8K |
Holdings After Transaction:
Ordinary Shares — 157,171 shares (Direct, null)
Footnotes (1)
- Represents the number of shares required to be sold to cover the statutory tax withholding obligations in connection with the vesting and settlement of the RSUs. This sale is mandated by the Reporting Person's award agreement that requires the satisfaction of minimum statutory tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary sale 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 $4.26 to $4.29 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 ranges set forth in footnotes (2) and (3). The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.30 to $4.31 inclusive.
Key Figures
Shares sold July 2, 2026: 1,859 shares at $4.27
Shares sold July 6, 2026: 532 shares at $4.31
Total shares sold: 2,391 shares
+3 more
6 metrics
Shares sold July 2, 2026
1,859 shares at $4.27
Open-market sale to cover RSU tax withholding
Shares sold July 6, 2026
532 shares at $4.31
Open-market sale to cover RSU tax withholding
Total shares sold
2,391 shares
Aggregate of two sell-to-cover transactions
Holdings after transactions
157,171 shares
Ordinary Shares directly owned post July 6, 2026 sale
Weighted average price range July 2
$4.26–$4.29
Multiple trades reported as $4.27 weighted average
Weighted average price range July 6
$4.30–$4.31
Multiple trades reported as $4.31 weighted average
Key Terms
restricted stock units, sell to cover, statutory tax withholding obligations, weighted average price
4 terms
restricted stock units financial
"in connection with the vesting and settlement of the RSUs"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
sell to cover financial
"funded by a "sell to cover" transaction and does not represent a discretionary sale"
Sell to cover is when a person who receives company stock through options or awards sells just enough shares immediately to pay required taxes, exercise costs, or fees, keeping the rest. Think of it like cashing part of a bonus to cover the tax bill so you can keep the remainder. For investors, it can create predictable small selling pressure and slightly change the number of shares actually held by insiders without increasing long‑term dilution.
statutory tax withholding obligations financial
"sold to cover the statutory tax withholding obligations in connection with the vesting"
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
FAQ
What did Bicycle Therapeutics (BCYC) disclose in Michael Skynner’s latest Form 4?
Bicycle Therapeutics reported that Chief Scientific Officer Michael Skynner sold shares in two small transactions. These were mandated "sell to cover" trades to satisfy statutory tax withholding on vested RSUs, rather than discretionary open-market sales, and he retained 157,171 Ordinary Shares afterward.
What does a "sell to cover" transaction mean in Bicycle Therapeutics (BCYC) insider filings?
A "sell to cover" transaction means shares are sold automatically to pay required taxes on vested equity awards. In this case, Skynner’s award agreement mandated selling enough shares to satisfy minimum statutory tax withholding, rather than him choosing to sell shares for portfolio reasons.