GeneDx (WGS) CFO exercises 16,250 RSUs, sells shares for taxes
Rhea-AI Filing Summary
GeneDx Holdings Corp. chief financial officer Kevin Feeley reported routine equity compensation activity. He exercised 16,250 restricted stock units, receiving the same number of Class A Common Stock shares for no cash cost. On the same date, he sold 8,818 shares of Class A Common Stock in several open-market transactions at weighted average prices in the low-to-mid $60s per share. According to the disclosure, these sales were executed solely to cover tax withholding obligations from the RSU vesting under a “sell to cover” arrangement and were not discretionary trades. After these transactions, he beneficially owned 34,580 shares of Class A Common Stock, plus RSUs representing contingent rights to receive up to 93,173 additional shares and options to purchase up to 25,906 shares, all vesting over time according to their terms.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 16,250 | $0.00 | -- |
| Exercise | Class A Common Stock | 16,250 | $0.00 | -- |
| Sale | Class A Common Stock | 2,485 | $61.2909 | $152K |
| Sale | Class A Common Stock | 961 | $62.3319 | $60K |
| Sale | Class A Common Stock | 2,520 | $63.2791 | $159K |
| Sale | Class A Common Stock | 995 | $64.5993 | $64K |
| Sale | Class A Common Stock | 1,857 | $65.2143 | $121K |
Footnotes (1)
- Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Class A Common Stock upon settlement for no consideration. The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs. The sale was to satisfy tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $60.93 to $61.91 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the U.S. 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 and in footnotes 4 through 7 of this Form 4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $61.93 to $62.91 per share, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $62.96 to $63.955 per share, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $63.99 to $64.96 per share, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $65.00 to $65.61 per share, inclusive. Following the reported sale undertaken to satisfy tax withholding liabilities, in addition to the 34,580 shares of Class A Common Stock beneficially owned by the Reporting Person, the Reporting Person held RSUs representing contingent rights to receive up to an aggregate 93,173 shares of the Issuer's Class A Common Stock and options to purchase up to an aggregate 25,906 shares of Class A Common Stock, which RSUs and options vest according to their respective terms. 25% of the total award vested or vests annually, with the first tranche vested on March 26, 2025, subject to the Reporting Person's continued service to the Issuer on each vesting date. These RSUs do not have an expiration date; they either vest or are cancelled prior to the vesting date.
Key Figures
Key Terms
Restricted Stock Unit financial
sell to cover financial
weighted average price financial
beneficially owned financial
contingent right financial
FAQ
What did GeneDx (WGS) CFO Kevin Feeley report in this Form 4 filing?
Were the GeneDx (WGS) CFO’s stock sales considered discretionary trades?
What are the terms of the GeneDx (WGS) restricted stock units mentioned in the filing?