NovoCure (NVCR) CMO sells shares to cover RSU tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
NovoCure Ltd Chief Medical and Innovation Officer Uri Weinberg reported a mix of share grants and mandated sales. On February 28, he acquired 12,992 ordinary shares at $0.00 per share from vesting of performance-based restricted stock units. Around these vestings, a total of 10,733 shares were sold in open-market transactions on February 27 and March 2 at weighted average prices of about $13.84 and $13.33 per share to cover tax withholding obligations under NovoCure’s equity plans, described as non-discretionary “sell to cover” trades. After these transactions, Weinberg directly owned 223,477 ordinary shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 10,733 shares ($146,863)
Net Sell
3 txns
Insider
Weinberg Uri
Role
Chf Medical and Innovation Ofr
Sold
10,733 shs ($147K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Ordinary Shares | 3,272 | $13.3273 | $44K |
| Grant/Award | Ordinary Shares | 12,992 | $0.00 | -- |
| Sale | Ordinary Shares | 7,461 | $13.8395 | $103K |
Holdings After Transaction:
Ordinary Shares — 223,477 shares (Direct)
Footnotes (1)
- 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 $13.79 USD to $13.91 USD; the price reported above reflects the weighted average sale price. Represents vesting of performance-based restricted stock units. This transaction was executed in multiple trades at prices ranging from $13.31 USD to $13.36 USD; the price reported above reflects the weighted average sale price.
FAQ
What insider transactions did NovoCure (NVCR) report for Uri Weinberg?
NovoCure reported that Uri Weinberg received 12,992 ordinary shares from vesting of performance-based RSUs, and sold 10,733 shares in open-market trades to cover tax withholding obligations, leaving him with 223,477 shares held directly.
What type of equity award did NovoCure (NVCR) grant to Uri Weinberg?
The Form 4 describes the 12,992-share acquisition as vesting of performance-based restricted stock units. These RSUs converted into ordinary shares at vesting, with associated tax obligations satisfied through mandated open-market share sales.