WALTHAM, MA – Dyne Therapeutics, Inc. (NASDAQ:DYN), a pharmaceutical company, announced in a recent filing that its Chief Medical Officer, Farwell Wildon, has sold a significant portion of his holdings in the company. The transactions, which occurred on June 11, 2024, involved the sale of 2,636 shares of common stock at an average price of $31.27, for a total value of more than $82,000.
According to the document, the shares were sold in multiple transactions at a price between $31.00 and $31.52. The disclosed sales were part of an automatic plan to satisfy tax withholding obligations related to the vesting of restricted stock units granted to Wildon on December 10, 2021 and December 9, 2022. It is noted that the sales do not represent discretionary transactions by Wildon, as they were made under a preordained trading plan known as Rule 10b5-1, adopted on July 14, 2023.
Following the transactions, Wildon’s holdings in Dyne Therapeutics decreased, but he still maintains a significant stake in the company with 145,543 shares, which includes 115,565 unvested restricted stock units.
Investors often monitor insider transactions because they can provide insight into management’s outlook on the company’s future performance. The Dyne Therapeutics CMO’s sales could catch the attention of the investment community as they reflect a notable divestment from the company’s stock.
Dyne Therapeutics provided no further comment on these transactions. Interested parties, including shareholders and Securities and Exchange Commission personnel, may request detailed information on the exact number of shares sold at each price point within the disclosed range.
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