PTC Therapeutics (PTCT) CEO sells 10,292 shares to cover taxes
Rhea-AI Filing Summary
PTC Therapeutics, Inc. chief executive officer Matthew B. Klein reported an automatic sale of 10,292 shares of common stock on 2026-08-04 at $68.57 per share. The sale was executed under an irrevocable sell-to-cover election pursuant to a Rule 10b5-1 trading plan to satisfy tax withholding obligations upon vesting of 25,000 RSUs from an August 1, 2025 grant of 75,000 RSUs. Following this transaction, Klein directly holds 383,868 shares of common stock, which include 162 shares acquired through the employee stock purchase plan for the period ended 2026-06-30.
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Insights
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Insider Trade Summary 10b5-1
Net Seller: 10,292 shares
Net Sell
1 txn
Insider
Klein Matthew B.
Role
CHIEF EXECUTIVE OFFICER
Sold
10,292 shs ($706K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock F1, F2 | 10,292 | $68.57 | $706K |
Holdings After Transaction:
Common Stock — 383,868 shares (Direct)
Footnotes (2)
- F1. Represents shares automatically sold pursuant to an irrevocable sell to cover election entered into upon acceptance of the grant to satisfy tax withholding obligations in connection with the vesting of the 25,000 RSUs from an August 1, 2025 grant of 75,000 RSUs.
- F2. Includes 162 shares of common stock acquired under the Issuer's employee stock purchase plan for the period ended June 30, 2026.
Key Figures
Shares sold: 10,292 shares
Sale price per share: $68.57
Shares held after transaction: 383,868 shares
+3 more
6 metrics
Shares sold
10,292 shares
Common stock sold on 2026-08-04 in an automatic sell-to-cover transaction
Sale price per share
$68.57
Per-share price for 10,292 common shares sold on 2026-08-04
Shares held after transaction
383,868 shares
Directly owned common shares by Matthew B. Klein following the reported sale
RSUs vested
25,000 RSUs
Restricted stock units vesting that triggered the tax sell-to-cover transaction
RSU grant size
75,000 RSUs
Total RSUs in the August 1, 2025 equity grant referenced in the footnote
ESPP shares included
162 shares
Common shares acquired under the employee stock purchase plan for the period ended 2026-06-30
Key Terms
sell to cover, RSUs, employee stock purchase plan
3 terms
sell to cover financial
"shares automatically sold pursuant to an irrevocable sell to cover election"
Sell to cover is when a person who receives company stock through options or awards sells just enough shares immediately to pay required taxes, exercise costs, or fees, keeping the rest. Think of it like cashing part of a bonus to cover the tax bill so you can keep the remainder. For investors, it can create predictable small selling pressure and slightly change the number of shares actually held by insiders without increasing long‑term dilution.
RSUs financial
"vesting of the 25,000 RSUs from an August 1, 2025 grant of 75,000 RSUs"
RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.
employee stock purchase plan financial
"shares of common stock acquired under the Issuer's employee stock purchase plan"
An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did PTC Therapeutics (PTCT) disclose for CEO Matthew B. Klein?
PTC Therapeutics disclosed that CEO Matthew B. Klein sold 10,292 shares of common stock on 2026-08-04 at $68.57 per share. The sale was an automatic sell-to-cover transaction to satisfy tax withholding on vesting restricted stock units, not a discretionary open-market trade.
Was the PTC Therapeutics (PTCT) CEO’s sale made under a Rule 10b5-1 trading plan?
Yes. The filing affirms the transaction under a Rule 10b5-1 trading plan, and the footnote describes an irrevocable sell-to-cover election. This indicates the timing and amount of shares sold for taxes were pre-arranged rather than discretionary.