Gritstone bio, Inc. (NASDAQ:GRTS) reported a recent transaction by its President and CEO, Andrew R. Allen, involving the sale of company shares. The executive sold a total of 24,263 shares at prices ranging from $0.735 to $0.7616, averaging $0.7483 per share, resulting in a total value of $18,156.
The transaction was carried out on May 16, 2024, and was disclosed as part of a routine filing with the Securities and Exchange Commission. According to the filing, the sale was primarily to cover tax liabilities associated with the settlement of Performance Stock Units (PSUs).
Allen’s recent financial moves also included the acquisition of PSUs, which were granted based on the achievement of specific performance criteria. Half of these units vested immediately on May 15, 2024, with the remaining half scheduled to vest on May 15, 2025, contingent upon his continued service with the company.
The CEO’s holdings following the transactions include both vested and unvested Restricted Stock Units (RSUs) and PSUs, totaling 870,362 units that are subject to vesting conditions. Additionally, the filing mentioned that Allen holds shares indirectly through a revocable trust, for which he is a co-trustee, and disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.
Investors and followers of Gritstone bio’s stock activity often monitor such transactions as indicators of executives’ perspectives on the company’s value and prospects. Gritstone bio, Inc. specializes in biological products and operates within the healthcare sector, with corporate headquarters located in Emeryville, California.
InvestingPro Insights
As Gritstone bio, Inc. (NASDAQ:GRTS) navigates through its operational challenges, the recent insider trading activity by CEO Andrew R. Allen has brought the company’s stock performance into focus. With a market capitalization of $85.44 million, Gritstone bio’s financial health and future outlook can be further understood through key metrics and insights from InvestingPro.
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An important InvestingPro Tip to consider is that analysts have revised their earnings upwards for the upcoming period, indicating a potential shift in the company’s trajectory. This contrasts with the company’s historical performance, as Gritstone bio has not been profitable over the last twelve months and analysts do not anticipate the company will be profitable…
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