Twist Bioscience COO sells shares for tax withholding
Twist Bioscience Corp President and COO Patrick John Finn reported an open-market sale of 2,844 shares of common stock at an average price of $57.1488 per share.
Rhea-AI Filing Summary
Twist Bioscience Corp President and COO Patrick John Finn reported an open-market sale of 2,844 shares of common stock at an average price of $57.1488 per share. The footnote explains these shares were sold solely to cover tax withholding obligations arising from the vesting of Restricted Stock Units under the company’s equity incentive plans.
The filing states these “sell to cover” transactions are mandated by the issuer’s plan election and are not discretionary trades by the executive. After this tax-related sale, Finn directly holds 278,964 shares of Twist Bioscience common stock.
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Insider Trade Summary
Net Seller: 2,844 shares
Net Sell
1 txn
Insider
Finn Patrick John
Role
President and COO
Sold
2,844 shs ($163K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 2,844 | $57.1488 | $163K |
Holdings After Transaction:
Common Stock — 278,964 shares (Direct)
Footnotes (1)
- F1. Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of Restricted Stock Units. These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of a tax withholding obligation to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.
Key Figures
Shares sold: 2,844 shares
Sale price per share: $57.1488 per share
Shares held after transaction: 278,964 shares
3 metrics
Shares sold
2,844 shares
Common stock sold on transaction date to cover tax withholding
Sale price per share
$57.1488 per share
Average price for the 2,844 common shares sold
Shares held after transaction
278,964 shares
Direct ownership of Patrick John Finn after the sale
Key Terms
Restricted Stock Units, sell to cover, equity incentive plans, open-market sale
4 terms
Restricted Stock Units financial
"in connection with the vesting of Restricted Stock Units."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
sell to cover financial
"funded by a "sell to cover" transaction and do not represent"
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.
equity incentive plans financial
"Issuer's election under its equity incentive plans to require"
Equity incentive plans are company programs that pay employees, executives, or directors with company stock, stock options, or share units instead of or in addition to cash, aiming to align their interests with shareholders—like giving team members a stake in the house they help build. For investors this matters because such plans can motivate better company performance but also dilute existing ownership and increase reported compensation costs, so they affect future earnings, voting power, and share value.
open-market sale financial
"transaction_action": "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
FAQ
What insider transaction did Twist Bioscience (TWST) report for Patrick John Finn?
Twist Bioscience reported that President and COO Patrick John Finn sold 2,844 shares. The shares were sold at an average price of $57.1488 per share to satisfy tax withholding obligations tied to vesting Restricted Stock Units, rather than as a discretionary stock sale.
Does the Twist Bioscience (TWST) Form 4 indicate a discretionary sale by Patrick John Finn?
No, the filing states the sale was not discretionary. The footnote explains the 2,844 shares were sold under a mandated “sell to cover” arrangement in the company’s equity incentive plans, solely to satisfy tax withholding from Restricted Stock Unit vesting.
What is a “sell to cover” transaction in the Twist Bioscience (TWST) filing?
A “sell to cover” transaction sells enough shares to pay required taxes. In this case, Twist Bioscience’s plan required selling 2,844 vested RSU shares so tax withholding obligations could be funded, rather than having the executive make a separate cash payment.
AI-generated analysis. How Rhea-AI works. Not financial advice.
