Sutro Biopharma (STRO) GC reports new RSUs, options and tax share withholdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SUTRO BIOPHARMA, INC. Chief Administrative Officer and General Counsel David Pauling reported multiple equity transactions. He acquired common stock through the vesting and settlement of restricted stock units (RSUs) and received new awards of 4,200 RSUs and stock options for 33,600 shares. Some common shares (970 and 551) were withheld at prices of $20.55 and $20.47 to satisfy tax obligations in connection with RSU settlements, which the company notes do not represent market sales by Pauling.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,698 shares exercised/converted
Mixed
10 txns
Insider
Pauling David
Role
Chief Admin. Ofcr. & GC
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units (RSUs) | 2,356 | $0.00 | -- |
| Grant/Award | Restricted Stock Units (RSUs) | 4,200 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy) | 33,600 | $0.00 | -- |
| Exercise | Common Stock | 2,356 | $0.00 | -- |
| Tax Withholding | Common Stock | 970 | $20.55 | $20K |
| Exercise | Restricted Stock Units (RSUs) | 500 | $0.00 | -- |
| Exercise | Restricted Stock Units (RSUs) | 842 | $0.00 | -- |
| Exercise | Common Stock | 500 | $0.00 | -- |
| Exercise | Common Stock | 842 | $0.00 | -- |
| Tax Withholding | Common Stock | 551 | $20.47 | $11K |
Holdings After Transaction:
Restricted Stock Units (RSUs) — 7,069 shares (Direct);
Stock Option (right to buy) — 33,600 shares (Direct);
Common Stock — 10,320 shares (Direct)
Footnotes (1)
- Represents the number of shares of Common Stock that have been withheld by the Issuer to satisfy its income tax withholding and remittance obligations in connection with the net settlement of RSUs; does not represent a sale by the reporting person. Each RSU represents a contingent right to receive one (1) share of the Issuer's Common Stock upon settlement. The RSUs vested or vest as to 1/4 of the total award annually, with the first tranche vested on March 1, 2024, subject to continued service through each vesting date. The RSUs vested or vest as to 1/4 of the total award annually, with the first tranche vested on March 1, 2025, subject to continued service through each vesting date. The RSUs vested or vest as to 1/4 of the total award annually, with the first tranche vested on March 2, 2026, subject to continued service through each vesting date. The RSUs shall vest as to 1/4 of the total award annually, with the first tranche vesting on March 1, 2027, subject to continued service through each vesting date. 1/48 of the total option award shall vest monthly, subject to the reporting person's continued service to the Issuer on each vesting date, with the first tranche vesting on April 1, 2026.
FAQ
What insider transactions did STRO executive David Pauling report on this Form 4?
David Pauling reported RSU settlements into common stock, a new grant of 4,200 restricted stock units, and stock options for 33,600 shares. He also reported share withholdings used to cover tax obligations related to these equity awards, rather than open-market stock sales.
How many restricted stock units did STRO’s David Pauling receive and how do they vest?
David Pauling received a grant of 4,200 restricted stock units. Footnotes state various RSU awards vest in four annual installments, with first tranches on March 1, 2024, March 1, 2025, March 2, 2026, or March 1, 2027, subject to continued service with Sutro Biopharma.
What stock option award did STRO grant to David Pauling and what is its vesting schedule?
David Pauling was granted stock options covering 33,600 shares. According to the disclosure, 1/48 of the total option award vests monthly, subject to his continued service, with the first tranche vesting on April 1, 2026, spreading vesting over four years of employment.
How did RSU settlements affect David Pauling’s STRO common stock holdings?
RSU conversions on March 1 and March 2, 2026 delivered several blocks of common stock, including 2,356, 500, and 842 shares. These increased his direct holdings, while a portion of the shares was simultaneously withheld to cover tax liabilities associated with the RSU net settlements.
What does each RSU reported by STRO’s David Pauling represent?
Each restricted stock unit represents a contingent right to receive one share of Sutro Biopharma common stock upon settlement. Vesting of these RSUs occurs over time, generally in four annual installments, contingent on David Pauling’s continued service through each specified vesting date.