Solid Biosciences (SLDB) CMO logs RSU vesting and automatic tax-cover sale
Rhea-AI Filing Summary
Solid Biosciences Inc. reported insider equity activity by Chief Medical Officer Gabriel Brooks. Previously granted restricted stock units (RSUs) vested, and each RSU converts into one share of common stock. On the vesting date, 10,937 RSUs were exercised into the same number of common shares at no cash exercise price.
A related sale of common stock was executed solely to cover withholding taxes under a pre‑established durable automatic sales instruction adopted on August 15, 2024. The company notes this sell‑to‑cover transaction was not a discretionary trade by Dr. Brooks. Following these transactions, Brooks directly held 89,466 common shares and 21,876 RSUs.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 0 | $5.8233 | -- |
| Exercise | Restricted Stock Units | 10,937 | $0.00 | -- |
| Exercise | Common Stock | 10,937 | $0.00 | -- |
Footnotes (1)
- Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock (the "RSUs"). This sale was made to cover withholding taxes following the vesting of the previously granted RSUs pursuant to a durable automatic sales instruction letter adopted by Dr. Brooks on August 15, 2024 effecting the sell-to-cover election. The sale does not represent a discretionary trade by Dr. Brooks. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.23 to $6.14, inclusive. The reporting person undertakes to provide to 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 footnote (4) to this Form. The RSUs were granted on February 13, 2024 (the "Grant Date") and vest over four years, with 25% of the original number of shares vesting on each anniversary of the Grant Date until the fourth such anniversary.
FAQ
What insider transactions did Solid Biosciences (SLDB) report for Gabriel Brooks?
Was the Solid Biosciences (SLDB) insider sale by Gabriel Brooks discretionary?
How many restricted stock units vested for Solid Biosciences (SLDB) CMO Gabriel Brooks?
What is the vesting schedule of Gabriel Brooks’ RSUs at Solid Biosciences (SLDB)?