Day One Biopharma (DAWN) CEO sells shares to pay RSU tax bill
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Day One Biopharmaceuticals, Inc. CEO Jeremy Bender reported a mix of RSU settlements and a tax-related share sale. On February 17, he sold 15,459 shares of common stock in an open-market transaction at a weighted average price of $11.6009 per share to cover tax liabilities from recently settled restricted stock units (RSUs).
Around February 15, multiple RSU awards were converted into common shares at no cash cost, reflecting equity compensation vesting. After these transactions, Bender directly held 204,603 shares of common stock, and additional shares are held indirectly through several Bender family and grantor retained annuity trusts. The RSUs vest in equal quarterly installments, so further scheduled vesting may occur if service continues.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 15,459 shares ($179,338)
Net Sell
15 txns
Insider
Bender Jeremy
Role
CHIEF EXECUTIVE OFFICER
Sold
15,459 shs ($179K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 15,459 | $11.6009 | $179K |
| Exercise | Restricted Stock Unit (RSU) | 4,750 | $0.00 | -- |
| Exercise | Restricted Stock Unit (RSU) | 11,688 | $0.00 | -- |
| Exercise | Restricted Stock Unit (RSU) | 11,687 | $0.00 | -- |
| Exercise | Restricted Stock Unit (RSU) | 14,812 | $0.00 | -- |
| Exercise | Common Stock | 4,750 | $0.00 | -- |
| Exercise | Common Stock | 11,688 | $0.00 | -- |
| Exercise | Common Stock | 11,687 | $0.00 | -- |
| Exercise | Common Stock | 14,812 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 204,603 shares (Direct);
Restricted Stock Unit (RSU) — 14,250 shares (Direct);
Common Stock — 20,204 shares (Indirect, See footnote)
Footnotes (1)
- Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock upon settlement for no consideration. The sale of shares is for the sole purpose of covering the Reporting Person's tax liability with respect to the settlement of RSUs. The price reported in Column 4 is a weighted average price. These shares were sold as part of block trades for multiple security holders of the Issuer at prices ranging from $11.195 to $11.8508, inclusive. The Reporting Person undertakes to provide to the Issuer, any securityholder 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 herein with regard to the block trade. Represents shares held by The Jeremy Bender 2023 Grantor Retained Annuity Trust dated June 27, 2023. Represents shares held by The Melissa Bender 2022 Grantor Retained Annuity Trust under Irrevocable Trust Agreement dated March 29, 2022 of which the Reporting Person's spouse is trustee. Represents shares held by The Melissa Bender 2023 Grantor Retained Annuity Trust, dated June 27, 2023. Represents shares held by the Bender Revocable Trust dated January 18, 2017, as amended, Jeremy Bender and Melissa C. Bender, Trustees. Represents shares held by the Jeremy Bender 2025 Grantor Retained Annuity Trust of which the Reporting Person is trustee. Represents shares held by the Melissa Bender 2025 Grantor Retained Annuity Trust of which the Reporting Person's spouse is trustee. The RSUs will vest as to 1/16th of the total award in quarterly installments on February 15, May 15, August 15 and November 15, subject to the Reporting Person's provision of service to the Issuer on each vesting date. RSUs do not expire; they either vest or are canceled prior to the vesting date.
FAQ
What insider transactions did DAWN CEO Jeremy Bender report?
Jeremy Bender reported RSU conversions and a related share sale. He exercised several restricted stock unit (RSU) awards into common stock and then sold 15,459 shares in the open market specifically to cover tax liabilities from those RSU settlements.
How do Jeremy Bender’s RSUs in Day One (DAWN) vest over time?
The restricted stock units vest in quarterly installments. Specifically, one-sixteenth of the total RSU award vests on each of February 15, May 15, August 15 and November 15, provided Bender continues to provide service to Day One on each applicable vesting date.