Corbus COO sells shares to cover RSU taxes
Corbus Pharmaceuticals Holdings, Inc.’s Chief Operating Officer Ian Hodgson reported an open-market sale of 847 shares of common stock at a weighted-average price of $7.383 per share.
Rhea-AI Filing Summary
Corbus Pharmaceuticals Holdings, Inc.’s Chief Operating Officer Ian Hodgson reported an open-market sale of 847 shares of common stock at a weighted-average price of $7.383 per share. According to the disclosure, this sale was mandated as a “sell to cover” transaction to satisfy tax withholding obligations tied to the vesting and settlement of restricted stock units and was not a discretionary trade.
After the transaction, Hodgson directly held 51,080 shares, which the disclosure notes includes 46,362 unvested restricted stock units that continue to vest under their existing schedules.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, par value $0.0001 per share | 847 | $7.383 | $6K |
Footnotes (3)
- F1. The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of Restricted Stock Units ("RSUs"). The sale is mandated by the Issuer's election to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person.
- F2. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.37 to $7.42. 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 in this footnote.
- F3. This amount includes 46,362 unvested RSUs subject to each grant's vesting schedule as previously reported.
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