GeneDx (WGS) CEO exercises RSUs, sells shares only to cover taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
GeneDx Holdings Corp. CEO Katherine Stueland reported routine equity compensation activity. She exercised restricted stock units into 6,546 shares of Class A Common Stock at no cost, then sold 3,678 of those shares at a weighted average price of $86.748 per share solely to cover tax withholding obligations via a “sell to cover” transaction, which the filing states was not discretionary.
After these transactions, she directly owned 44,955 shares of Class A Common Stock. The filing also notes additional unvested awards: RSUs representing contingent rights to receive up to 445,366 shares and options to purchase up to 107,610 shares, which vest over time according to their terms.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 3,678 shares ($319,059)
Net Sell
3 txns
Insider
Stueland Katherine
Role
CHIEF EXECUTIVE OFFICER
Sold
3,678 shs ($319K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 6,546 | $0.00 | -- |
| Exercise | Class A Common Stock | 6,546 | $0.00 | -- |
| Sale | Class A Common Stock | 3,678 | $86.748 | $319K |
Holdings After Transaction:
Restricted Stock Unit — 19,640 shares (Direct);
Class A Common Stock — 48,633 shares (Direct)
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 $86.5585 to $86.75 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 range set forth in this footnote. Following the reported sale undertaken to satisfy tax withholding liabilities, in addition to the 44,955 shares of Class A Common Stock beneficially owned by the Reporting Person, the Reporting Person beneficially owned RSUs representing contingent rights to receive up to an aggregate of 445,366 shares of Class A Common Stock and options to purchase up to an aggregate of 107,610 shares of Class A Common Stock, which RSUs and options vest according to their respective terms. 6.25% of the total award vested or vests quarterly, subject to the Reporting Person's continued service to the Issuer on each vesting date, and with the first tranche vested on March 9, 2023. These RSUs do not have an expiration date; they either vest or are cancelled prior to the vesting date.
FAQ
What insider transactions did GeneDx (WGS) CEO Katherine Stueland report?
Katherine Stueland exercised restricted stock units into 6,546 shares of GeneDx Class A Common Stock, then sold 3,678 of those shares. The sale was executed as a “sell to cover” transaction specifically to satisfy tax withholding obligations tied to RSU vesting.
What additional equity awards does the GeneDx (WGS) CEO have outstanding?
Beyond her 44,955 shares, the CEO beneficially held RSUs for up to 445,366 additional shares and options for up to 107,610 shares. These RSUs and options vest over time according to their respective schedules, subject to her continued service with the company.
How do the GeneDx (WGS) CEO’s RSUs vest over time?
According to the filing, 6.25% of the RSU award vests quarterly, starting with the first tranche on March 9, 2023. Vesting remains subject to her continued service, and RSUs either vest on schedule or are canceled if conditions are not met by each vesting date.