OmniAb (OABI) CFO awarded stock, sells shares for tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
OmniAb, Inc. Executive VP, Finance and CFO Kurt A. Gustafson reported multiple equity transactions. He acquired 18,750 shares of common stock through the vesting and conversion of restricted stock units and received new awards of 60,000 RSUs and stock options for 600,000 shares.
Following these awards, he sold 9,301 shares of common stock at a weighted average price of $1.71 per share to cover tax withholding obligations under a mandatory sell-to-cover arrangement, which the company’s equity plans require rather than a discretionary trade.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 9,301 shares ($15,905)
Net Sell
5 txns
Insider
GUSTAFSON KURT A
Role
Executive VP, Finance and CFO
Sold
9,301 shs ($16K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 18,750 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 60,000 | $0.00 | -- |
| Grant/Award | Stock Option | 600,000 | $0.00 | -- |
| Exercise | Common Stock | 18,750 | $0.00 | -- |
| Sale | Common Stock | 9,301 | $1.71 | $16K |
Holdings After Transaction:
Restricted Stock Units — 64,584 shares (Direct);
Stock Option — 600,000 shares (Direct);
Common Stock — 278,152 shares (Direct)
Footnotes (1)
- Represents the vesting of an RSU grant which occurs in three substantially equal annual installments beginning on February 18, 2026 Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock. Represents the number of shares required to be sold by the reporting person to cover tax withholding obligations in connection with the vesting of RSUs. These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of a tax withholding obligation to be funded by a "sell-to-cover" transaction and do not represent discretionary trades by the reporting person. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.68 to $1.73. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The RSU grant vests in three substantially equal annual installments beginning on February 18, 2027. The Stock Option grant vests and is exercisable as to 12.5% of the underlying shares 6 months after the grant date, and in 42 substantially equal monthly installments thereafter.
FAQ
What insider transactions did OmniAb (OABI) report for CFO Kurt Gustafson?
OmniAb reported several equity transactions for CFO Kurt Gustafson. He received 60,000 new restricted stock units, stock options for 600,000 shares, and 18,750 shares from RSU vesting, while 9,301 shares of common stock were sold to satisfy tax withholding obligations under a mandated sell-to-cover program.
Were the OmniAb (OABI) insider stock sales discretionary trades?
No, the reported OmniAb stock sales were not discretionary trades. Footnotes explain the 9,301 shares were sold under a mandatory sell-to-cover arrangement required by the company’s equity incentive plans to satisfy tax withholding obligations from restricted stock unit vesting.
What new equity awards did OmniAb (OABI) grant to its CFO?
OmniAb granted its CFO 60,000 restricted stock units and 600,000 stock options. The RSUs vest in three substantially equal annual installments beginning on February 18, 2027, while the stock options vest 12.5% after six months and then in 42 substantially equal monthly installments.
How do the new OmniAb (OABI) restricted stock units vest for the CFO?
The new OmniAb restricted stock units vest over three years. According to the filing, the 60,000-unit grant vests in three substantially equal annual installments, starting on February 18, 2027, aligning the CFO’s compensation more closely with the company’s multi-year performance.
What are the vesting terms of the OmniAb (OABI) stock options granted to the CFO?
The OmniAb stock options vest over a multi-year schedule. They become exercisable as to 12.5% of the underlying shares six months after the grant date, with the remaining shares vesting in 42 substantially equal monthly installments, creating a long-term incentive structure for the CFO.