Cytokinetics (CYTK) CEO executes sell-to-cover stock sales for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Cytokinetics Inc. President & CEO Robert I. Blum reported an open-market sale of 36,601 shares of common stock at $62.15 per share. According to the footnotes, these were company-compelled sell-to-cover transactions to satisfy tax withholding obligations from RSU vesting, rather than discretionary sales.
After these transactions, Blum holds 430,330 shares of common stock directly. In addition, 2,083 shares are held by The Bridget Blum 2003 Irrevocable Trust and 2,083 shares are held by The Brittany Blum 2003 Irrevocable Trust as indirect holdings.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 36,601 shares ($2,274,752)
Net Sell
4 txns
Insider
Blum Robert I
Role
President & CEO
Sold
36,601 shs ($2.27M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 12,673 | $62.15 | $788K |
| Sale | Common Stock | 23,928 | $62.15 | $1.49M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 454,258 shares (Direct);
Common Stock — 2,083 shares (Indirect, by Trust 1)
Footnotes (1)
- Company compelled sell-to-cover transaction to satisfy tax withholding obligations attributable to RSU vesting. Company compelled sell-to-cover transaction to satisfy tax withholding obligations attributable to RSU vesting. Shares held by The Bridget Blum 2003 Irrevocable Trust. Shares held by The Brittany Blum 2003 Irrevocable Trust.
FAQ
What insider transaction did Cytokinetics (CYTK) report for Robert Blum?
Cytokinetics reported that President & CEO Robert I. Blum sold 36,601 shares of common stock at $62.15 per share. Footnotes state the company compelled these sales to cover tax withholding from restricted stock unit vesting.
Do the CYTK trust holdings belong directly to Robert Blum?
The Form 4 states that 2,083 shares are held by The Bridget Blum 2003 Irrevocable Trust and 2,083 by The Brittany Blum 2003 Irrevocable Trust. These are reported as indirect holdings, reflecting shares held by the trusts rather than as direct personal holdings.