Tax-withholding stock sales by PTC Therapeutics (PTCT) chief ops officer
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
PTC Therapeutics chief technical operations officer Neil Gregory Almstead reported automatic stock sales to cover taxes tied to restricted stock unit vesting. On February 18, he sold 3,121 shares of common stock at $69.36 per share, including 3,056 shares held directly and 65 shares held indirectly through his spouse.
These transactions were executed under irrevocable sell-to-cover elections made when the RSU grants were accepted, to satisfy tax withholding obligations. After these sales, Almstead held 112,140 shares directly and 6,726 shares indirectly through his spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 3,121 shares ($216,473)
Net Sell
2 txns
Insider
Almstead Neil Gregory
Role
CHIEF TECHNICAL OPS OFFICER
Sold
3,121 shs ($216K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 3,056 | $69.36 | $212K |
| Sale | Common Stock | 65 | $69.36 | $5K |
Holdings After Transaction:
Common Stock — 112,140 shares (Direct);
Common Stock — 6,726 shares (Indirect, By Spouse)
Footnotes (1)
- 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 4,750 RSUs from a February 15, 2024 grant of 19,000 RSUs and the vesting of 3,000 RSUs from a February 15, 2024 grant of 6,000 RSUs. 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 217 RSUs from a February 15, 2024 grant of 870 RSUs.
FAQ
What insider stock transactions did PTCT officer Neil Gregory Almstead report?
Neil Gregory Almstead reported automatic sales of 3,121 PTC Therapeutics shares. The trades occurred on February 18 at $69.36 per share to cover tax withholding from vesting restricted stock units under pre-set sell-to-cover elections.
What RSU vesting events triggered Almstead’s PTCT tax-withholding sales?
The sales were tied to vesting from several February 15, 2024 RSU grants. Footnotes reference 4,750 and 3,000 RSUs vesting from larger grants, plus 217 RSUs from another grant, all requiring tax withholding funded by share sales.
Does Almstead’s spouse’s PTCT stock appear in the Form 4 transactions?
Yes, 65 of the sold shares were held indirectly through Almstead’s spouse. The filing labels this as indirect ownership "By Spouse," and these shares were also sold under the tax-related, irrevocable sell-to-cover election for RSU vesting.