NovoCure (NASDAQ: NVCR) CMO reports tax sale and new stock awards
Rhea-AI Filing Summary
NovoCure Ltd chief medical and innovation officer Uri Weinberg reported several equity transactions. He sold 6,412 ordinary shares at a weighted average price of $13.3054 per share to cover tax withholding tied to restricted stock unit vesting, a sale mandated by the company’s equity plan. Following this sale, he held 267,190 ordinary shares. Weinberg also received 50,125 ordinary shares as a grant of restricted share units and 73,340 stock options, both at a grant price of $0.00. The restricted share units are scheduled to vest in three equal parts on the first, second, and third anniversaries of the grant date, while the stock options vest in four equal parts on the first through fourth anniversaries, each subject to his continued employment.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Ordinary Shares | 6,412 | $13.3054 | $85K |
| Grant/Award | Stock Option (Right to Buy) | 73,340 | $0.00 | -- |
| Grant/Award | Ordinary Shares | 50,125 | $0.00 | -- |
Footnotes (1)
- Represents restricted share units that are scheduled to vest in equal parts on the first, second and third anniversary of the grant date, subject to the reporting person's continued employment through such dates. Represents the number of shares required to be sold by the reporting person to cover tax withholding obligations in connection with the vesting of Restricted Stock Units. This sale is mandated by the issuer's award agreement under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the reporting person. This transaction was executed in multiple trades at prices ranging from $13.21 USD to $13.445 USD; the price reported above reflects the weighted average sale price. Options to buy ordinary shares that are scheduled to vest in equal parts on the first, second, third and fourth anniversary of the grant date, subject to the reporting person's continued employment through such date.