Fulgent Genetics (FLGT) CSO has 1,645 shares withheld for tax obligations
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Fulgent Genetics, Inc. Chief Scientific Officer Hanlin Gao reported a routine tax-related share disposition. On the vesting of restricted stock units assumed in a prior merger, 1,645 shares of common stock were withheld to cover tax withholding obligations at $16.31 per share.
Following this tax-withholding event, Gao directly holds 993,007 shares of Fulgent Genetics common stock. This withholding is an administrative mechanism tied to equity compensation and does not represent an open-market purchase or sale.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Gao Hanlin
Role
Chief Scientific Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 1,645 | $16.31 | $27K |
Holdings After Transaction:
Common Stock — 993,007 shares (Direct, null)
Footnotes (1)
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Key Figures
Shares withheld for taxes: 1,645 shares
Tax-withholding share value: $16.31 per share
Shares owned after transaction: 993,007 shares
3 metrics
Shares withheld for taxes
1,645 shares
Tax-withholding disposition on RSU vesting
Tax-withholding share value
$16.31 per share
Valuation price used for withheld shares
Shares owned after transaction
993,007 shares
Direct ownership following tax withholding
Key Terms
restricted stock units, Agreement and Plan of Merger, tax withholding obligations
3 terms
restricted stock units financial
"tax withholding obligations that arose upon the vesting of certain restricted stock units assumed"
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.
Agreement and Plan of Merger financial
"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.
tax withholding obligations financial
"shares were withheld from the reporting person to satisfy the tax withholding obligations that arose"
FAQ
What insider transaction did Fulgent Genetics (FLGT) report for Hanlin Gao?
Fulgent Genetics reported that Chief Scientific Officer Hanlin Gao had 1,645 shares withheld to cover tax obligations on vested restricted stock units. This Form 4 reflects a tax-withholding disposition, not an open-market trade, and is part of routine equity compensation administration.
Was this FLGT insider transaction an open-market sale by Hanlin Gao?
No. The transaction is classified as a tax-withholding disposition, not an open-market sale. Shares were withheld by Fulgent Genetics to cover Gao’s tax obligations when restricted stock units vested, making this a routine administrative event tied to equity compensation.
What is the origin of the restricted stock units in this Fulgent Genetics Form 4?
The restricted stock units originated from awards assumed under an Agreement and Plan of Merger dated November 7, 2022, involving Fulgent Genetics and Fulgent Pharma Holdings. The vesting of those assumed units triggered the tax-withholding disposition disclosed in this Form 4.