Fulgent Genetics (FLGT) COO reports tax-withholding share disposition after RSU vesting
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Fulgent Genetics, Inc. President and COO Jian Xie reported routine tax-related share withholding tied to equity compensation. On this Form 4, 4,361 shares of common stock were withheld at $16.31 per share to satisfy tax withholding obligations arising from the vesting of restricted stock units assumed in a prior merger.
After this tax-withholding disposition, Xie holds 370,952 common shares directly. In addition, a trust associated with him, The Hsieh Family Dynasty Trust, holds 220,816 shares indirectly; Xie serves on the trust’s investment committee and disclaims beneficial interest except for any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Xie Jian
Role
President and COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 4,361 | $16.31 | $71K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 370,952 shares (Direct, null);
Common Stock — 220,816 shares (Indirect, By Trust)
Footnotes (1)
- The shares were withheld from the reporting person to satisfy the tax withholding obligations that arose upon the vesting of certain restricted stock units assumed pursuant to the Agreement and Plan of Merger, dated as of November 7, 2022 by and among Fulgent Genetics, Inc., FG Merger Sub, Inc., Fulgent Pharma Holdings, Inc., and the stockholders listed therein. These awards were originally reported on Form 4 filed with the U.S. Securities and Exchange Commission on November 9, 2022. Securities held by The Hsieh Family Dynasty Trust, dated January 27, 2010 (the "Trust"). Mr. Xie serves on the investment committee of the Trust. Mr. Xie disclaims any beneficial interest except with respect to any pecuniary interest therein.
Key Figures
Tax-withheld shares: 4,361 shares
Withholding price: $16.31 per share
Direct holdings after transaction: 370,952 shares
+1 more
4 metrics
Tax-withheld shares
4,361 shares
Shares withheld to satisfy tax obligations on RSU vesting
Withholding price
$16.31 per share
Value used for tax-withholding disposition
Direct holdings after transaction
370,952 shares
Common stock directly held by Jian Xie after withholding
Indirect trust holdings
220,816 shares
Common stock held by The Hsieh Family Dynasty Trust
Key Terms
restricted stock units, tax withholding obligations, Form 4, Agreement and Plan of Merger, +1 more
5 terms
restricted stock units financial
"the vesting of certain restricted stock units assumed pursuant to the Agreement and Plan of Merger"
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.
tax withholding obligations financial
"shares were withheld from the reporting person to satisfy the tax withholding obligations that arose upon the vesting"
Form 4 regulatory
"These awards were originally reported on Form 4 filed with the U.S. Securities and Exchange Commission"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
Agreement and Plan of Merger regulatory
"assumed pursuant to the Agreement and Plan of Merger, dated as of November 7, 2022"
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
beneficial interest financial
"Mr. Xie disclaims any beneficial interest except with respect to any pecuniary interest therein"
FAQ
What did Fulgent Genetics (FLGT) President Jian Xie report in this Form 4?
Jian Xie reported a tax-related disposition of shares. 4,361 common shares were withheld at $16.31 per share to cover tax obligations from vested restricted stock units, a non-market transaction tied to his compensation package.
Was the Jian Xie Form 4 for Fulgent Genetics (FLGT) an open-market sale?
No, the Form 4 shows a tax-withholding disposition, not an open-market sale. Shares were withheld by the company to satisfy tax obligations triggered when restricted stock units vested, a common administrative step in equity compensation.
What role does The Hsieh Family Dynasty Trust play in Jian Xie’s FLGT holdings?
The Hsieh Family Dynasty Trust holds 220,816 Fulgent Genetics shares indirectly. Jian Xie serves on its investment committee and disclaims beneficial interest except for any pecuniary interest, indicating the trust, not Xie personally, is the formal holder.