Tenaya Therapeutics Insider Sale: 5,053 Shares Disposed; RSU Balances Disclosed
Rhea-AI Filing Summary
Tingley Whittemore, Chief Medical Officer of Tenaya Therapeutics, Inc. (TNYA), reported three separate sales on 08/18/2025 to cover tax withholding for vested restricted stock units. Each sale was executed at a weighted average price of $1.253, with individual trade prices ranging from $1.18 to $1.32. The filings show dispositions of 1,608; 1,608; and 1,837 shares, leaving the reporting person with 176,248; 174,640; and 172,803 shares respectively after each transaction. The filing discloses remaining unvested RSUs that will result in future issuance: 103,132; 98,757; and 93,757 shares referenced in the explanatory footnotes. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person.
Positive
- Disclosure compliance is complete: transaction dates, amounts, prices, resulting beneficial ownership, and explanatory footnotes are provided
- Remaining RSU entitlements are explicitly disclosed (103,132; 98,757; 93,757 shares) and 6,000 shares from the 2021 ESPP are noted
Negative
- Share disposals occurred: total of 5,053 shares sold on 08/18/2025 (1,608 + 1,608 + 1,837), reducing immediate shareholdings
- Weighted average sale price is low ($1.253), indicating proceeds per share at that level (trades ranged $1.18–$1.32)
Insights
TL;DR: Routine tax-withholding sales for vested RSUs; disclosure and timing are standard, not an indicator of atypical trading.
The transactions disclosed are coded as sales to cover tax withholding related to the vesting of restricted stock units awarded on specific prior grant dates. The filing provides the weighted average sale price ($1.253) and a disclosed trade price range ($1.18–$1.32), and undertakes to provide detailed allocation of trades by price on request. Reporting compliance appears complete: transaction dates, amounts, resulting beneficial ownership, and explanatory footnotes are included, and the form is signed by an attorney-in-fact.
TL;DR: Sales are straightforward withholding mechanics tied to multiple RSU vesting events; remaining RSU pools are separately disclosed.
The Form 4 shows three separate dispositions all on the same date, each linked to distinct RSU grant vesting dates (Feb 15, 2023; Feb 23, 2024; Jan 24, 2025). Explanatory footnotes explicitly state the numbers of shares that remain issuable upon future vesting and note participation in the 2021 ESPP (6,000 shares). For stakeholders tracking insider-held equity, the filing clarifies net beneficial ownership after each withholding sale and documents compliance with Section 16 disclosure.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 1,608 | $1.253 | $2K |
| Sale | Common Stock | 1,608 | $1.253 | $2K |
| Sale | Common Stock | 1,837 | $1.253 | $2K |
Footnotes (1)
- Shares sold to cover tax withholding obligations in connection with the vesting of restricted stock units awarded on February 15, 2023. Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $1.18 to $1.32. Reporting Person undertakes to provide Tenaya Therapeutics, Inc., any security holder of Tenaya Therapeutics, Inc., 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 ranges set forth in this footnote. Includes 103,132 shares of Tenaya Therapeutics, Inc. common stock that will be issued to the Reporting Person upon vesting of restricted stock units and 6,000 shares of common stock acquired pursuant to the Tenaya Therapeutics, Inc. 2021 Employee Stock Purchase Plan on June 10, 2025. Shares sold to cover tax withholding obligations in connection with the vesting of restricted stock units awarded on February 23, 2024. Includes 98,757 shares of Tenaya Therapeutics, Inc. common stock that will be issued to the Reporting Person upon vesting of restricted stock units. Shares sold to cover tax withholding obligations in connection with the vesting of restricted stock units awarded on January 24, 2025. Includes 93,757 shares of Tenaya Therapeutics, Inc. common stock that will be issued to the Reporting Person upon vesting of restricted stock units.
