Day One Biopharma (DAWN) insider sells shares to cover RSU taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Day One Biopharmaceuticals general counsel and secretary Adam Dubow reported an open-market sale of 6,395 shares of common stock at a weighted-average price of $11.6009, undertaken solely to cover his tax liability from the settlement of restricted stock units.
On February 15, several restricted stock unit (RSU) awards were settled into common stock at no cash cost, with each RSU delivering one share upon vesting. After these transactions, Dubow directly held 72,694 shares of common stock. The RSUs vest over time in quarterly installments, subject to his continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 6,395 shares ($74,188)
Net Sell
11 txns
Insider
Dubow Adam
Role
Gen Counsel & Secretary
Sold
6,395 shs ($74K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 6,395 | $11.6009 | $74K |
| Exercise | Restricted Stock Unit (RSU) | 2,963 | $0.00 | -- |
| Exercise | Restricted Stock Unit (RSU) | 1,750 | $0.00 | -- |
| Exercise | Restricted Stock Unit (RSU) | 3,688 | $0.00 | -- |
| Exercise | Restricted Stock Unit (RSU) | 3,687 | $0.00 | -- |
| Exercise | Restricted Stock Unit (RSU) | 4,375 | $0.00 | -- |
| Exercise | Common Stock | 2,963 | $0.00 | -- |
| Exercise | Common Stock | 1,750 | $0.00 | -- |
| Exercise | Common Stock | 3,688 | $0.00 | -- |
| Exercise | Common Stock | 3,687 | $0.00 | -- |
| Exercise | Common Stock | 4,375 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 72,694 shares (Direct);
Restricted Stock Unit (RSU) — 8,889 shares (Direct)
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. The RSUs vest as to 25% of the total award on November 15, 2023, and 1/12th of the remaining amount vest in quarterly installments thereafter 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. 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.
FAQ
What insider transactions did Adam Dubow report in Day One Biopharmaceuticals (DAWN) Form 4?
Adam Dubow reported selling 6,395 shares of Day One Biopharmaceuticals common stock in an open-market transaction and settling multiple restricted stock unit (RSU) awards into common shares, all as part of routine equity compensation and related tax obligations.
How do Adam Dubow’s restricted stock units (RSUs) in DAWN vest over time?
One RSU award vests 25% on November 15, 2023, with the remaining amount vesting in equal quarterly installments on February 15, May 15, August 15, and November 15. Another RSU grant vests 1/16th quarterly on the same schedule, contingent on continued service.
What does each DAWN restricted stock unit (RSU) provide to Adam Dubow upon settlement?
Each restricted stock unit gives Adam Dubow a contingent right to receive one share of Day One Biopharmaceuticals common stock upon settlement for no cash consideration, meaning he does not pay a strike price when RSUs convert into shares as they vest.