PCVX Form 4: Grant Pickering Disposes Shares for RSU Tax Withholding at $31.56
Rhea-AI Filing Summary
Grant Pickering, who is listed as Vaxcyte, Inc.'s Chief Executive Officer and a director, reported transactions dated 09/02/2025 on Form 4. The filing shows three dispositions of Common Stock executed to satisfy tax withholding upon RSU vesting: 2,857 shares, 4,563 shares and 3,420 shares, each at a price of $31.56. Following those transactions the reported amounts beneficially owned on reported lines are 516,247, 511,684 and 508,264 shares respectively. The filing also reports 136,215 shares held indirectly in a trust for the reporting person’s son and 136,215 shares held indirectly in a trust for the reporting person’s daughter. The report notes 329 shares were acquired under the company ESPP on May 16, 2025. The Form 4 was signed by an attorney-in-fact on 09/04/2025.
Positive
- Timely and clear disclosure of insider transactions and tax-withholding RSU surrenders
- Substantial continued ownership remains via direct holdings and 136,215 shares in each children's trust
Negative
- Reduction in direct holdings due to RSU shares surrendered: 2,857, 4,563, and 3,420 shares
- Multiple disposition entries on the same date indicate concentrated share reductions for tax purposes
Insights
TL;DR: Routine RSU tax-withholding sales reduced direct holdings but substantial ownership remains; transactions appear administrative rather than material.
The filings indicate multiple small dispositions tied to RSU tax withholding at $31.56 per share on 09/02/2025. These are recorded as disposition codes and reduce direct beneficial holdings while substantial indirect holdings remain via trusts totaling 272,430 shares (reported as 136,215 for each child trust). Such surrenders to cover taxes are common and do not change control. For investors, the key facts are the sizes of the dispositions and the continuing meaningful ownership stakes held directly and indirectly by the CEO.
TL;DR: Disclosure complies with Section 16; use of attorney-in-fact and trust reporting are appropriately documented.
The Form 4 shows timely reporting and proper identification of indirect holdings via family trusts. The signature by attorney-in-fact is disclosed and the explanation clarifies the nature of the dispositions as RSU tax withholding. From a governance perspective, the filing demonstrates adherence to insider reporting obligations and transparent attribution of indirect ownership.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 2,857 | $31.56 | $90K |
| Tax Withholding | Common Stock | 4,563 | $31.56 | $144K |
| Tax Withholding | Common Stock | 3,420 | $31.56 | $108K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Represents shares surrendered to the Issuer to cover applicable tax withholding obligations realized upon the vesting of RSUs. Includes 329 shares acquired under the Issuer's Employee Stock Purchase Plan on May 16, 2025. Shares are held directly by a trust for the benefit of the Reporting Person's son. Shares are held directly by a trust for the benefit of the Reporting Person's daughter.
