Allogene (NASDAQ: ALLO) SVP share sale funds tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Allogene Therapeutics SVP and Chief Technical Officer Benjamin Beneski reported a small open-market sale of 4,835 shares of Common Stock at a weighted average price of $2.47 per share. The shares were sold solely to cover tax withholding obligations arising from the vesting of restricted stock units under the company’s equity incentive plan and were required by a “sell to cover” election, meaning the transaction was not a discretionary trade. After this sale, Beneski directly holds 198,205 shares of Allogene common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 4,835 shares ($11,942)
Net Sell
1 txn
Insider
Beneski Benjamin Machinas
Role
SVP, Chief Technical Officer
Sold
4,835 shs ($12K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 4,835 | $2.47 | $12K |
Holdings After Transaction:
Common Stock — 198,205 shares (Direct)
Footnotes (1)
- Represents the number of shares sold by the reporting person to cover tax withholding obligations in connection with the vesting of restricted stock units. This sale is mandated by the Issuer's election under its equity incentive plan to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade 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 $2.46 to $2.47, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, 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 range set forth above.
FAQ
What insider transaction did Allogene Therapeutics (ALLO) report for Benjamin Beneski?
Allogene Therapeutics reported that SVP and Chief Technical Officer Benjamin Beneski sold 4,835 shares of common stock. The sale was executed at a weighted average price of $2.47 per share and was linked to tax withholding on restricted stock unit vesting.
Was the Allogene Therapeutics (ALLO) insider sale by Benjamin Beneski discretionary?
No, the sale was not discretionary. The filing states the shares were sold under a mandated “sell to cover” arrangement in Allogene’s equity incentive plan, specifically to fund tax withholding on vested restricted stock units rather than reflecting an independent trading decision.
What role does Benjamin Beneski hold at Allogene Therapeutics (ALLO)?
Benjamin Beneski serves as Senior Vice President and Chief Technical Officer at Allogene Therapeutics. His position is identified in the Form 4, which reports his equity transaction and clarifies that the sale was tied to tax withholding on restricted stock unit vesting.