Cytokinetics (CYTK) CFO share sale covers RSU tax obligations
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Cytokinetics EVP and CFO Sung Lee reported an open-market sale of 4,935 shares of Common Stock at $62.15 per share. According to the footnote, this was a company-compelled sell-to-cover transaction to satisfy tax withholding obligations from RSU vesting, rather than a discretionary sale. After the transaction, Lee directly holds 87,127 shares, indicating he retains a substantial equity position.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 4,935 shares ($306,710)
Net Sell
1 txn
Insider
Lee Sung
Role
EVP, Chief Financial Officer
Sold
4,935 shs ($307K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 4,935 | $62.15 | $307K |
Holdings After Transaction:
Common Stock — 87,127 shares (Direct)
Footnotes (1)
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FAQ
What did Cytokinetics (CYTK) CFO Sung Lee report in this Form 4?
Sung Lee reported selling 4,935 Cytokinetics shares at $62.15 each. The transaction was disclosed as an open-market sale, but a footnote explains it was compelled by the company to cover tax withholding from RSU vesting.
Was the Cytokinetics (CYTK) CFO’s sale an open-market transaction?
The filing lists the transaction as an open-market sale at $62.15 per share. However, the footnote clarifies the sale was compelled by the company solely to satisfy tax withholding obligations associated with restricted stock unit vesting.
Does the Cytokinetics (CYTK) CFO’s Form 4 indicate a change in ownership strategy?
The filing mainly reflects a tax-related sell-to-cover event. With 4,935 shares sold for withholding and 87,127 shares still directly held, the data shows a routine tax transaction rather than a broad shift in the CFO’s ownership position.