Tax-driven share sale by Karyopharm (KPTI) EVP Mano Michael disclosed
Rhea-AI Filing Summary
Karyopharm Therapeutics Inc. executive Mano Michael, EVP, CLO & Secretary, reported an open-market sale of 3,526 shares of common stock at an average price of $9.4095 per share. According to the disclosure, this broker-assisted sale was made under a durable automatic sale instruction plan and was used solely to cover withholding taxes triggered by the vesting of restricted stock units, rather than a discretionary trade. After this tax-related transaction, Michael held 93,964 shares of Karyopharm common stock directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 3,526 shares
Net Sell
1 txn
Insider
Mano Michael
Role
EVP, CLO&Secretary
Sold
3,526 shs ($33K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 3,526 | $9.4095 | $33K |
Holdings After Transaction:
Common Stock — 93,964 shares (Direct)
Footnotes (1)
- F1. This transaction was effected pursuant to a durable automatic sale instruction plan adopted by the reporting person on May 16, 2022, and represents a broker-assisted sale of shares to satisfy the payment of withholding tax liability incurred upon the vesting of restricted stock units. The sale does not represent a discretionary trade by the reporting person.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Karyopharm (KPTI) executive Mano Michael report on this Form 4?
Karyopharm executive Mano Michael reported selling 3,526 shares of common stock. The shares were sold in an open-market, broker-assisted transaction to cover tax withholding obligations from restricted stock unit vesting, not as a discretionary portfolio trade.
Was the KPTI insider sale by Mano Michael a discretionary transaction?
No. The filing states the transaction was executed under a durable automatic sale instruction plan. It further clarifies the broker-assisted sale was solely to cover RSU-related tax withholding and therefore does not represent a discretionary trade by the reporting person.
What role does Mano Michael hold at Karyopharm Therapeutics (KPTI)?
Mano Michael is listed as an officer of Karyopharm Therapeutics, serving as Executive Vice President, Chief Legal Officer and Secretary. His Form 4 filing reflects equity activity connected to this leadership position, including tax-related sales following restricted stock unit vesting events.