Sutherland Everett Rand 4

What Happened Sutherland Everett Rand, CEO of Upstream Bio, sold 2,093 shares on 2026-03-16 at $9.29 per share, generating about $19,444 in proceeds. The Form 4 reports the sale (code S) and indicates this was to cover tax withholding obligations tied to the vesting of restricted stock units, not an elective open-market trade.

Key Details

• Transaction date: 2026-03-16; Form 4 filed: 2026-03-17 (timely filing).
• Price: $9.29 per share; Shares sold: 2,093; Gross proceeds ≈ $19,444.
• Transaction type: Reported as sale (open market or private sale code S); footnote F1 states sales were automatic “sell-to-cover” to satisfy tax withholding on RSU vesting.
• Shares owned after transaction: Not specified in the provided filing.
• No 10b5-1 plan or late-filing indication noted in the disclosed information.

Context Sell-to-cover transactions are routine administrative sales that occur when restricted stock units vest and some shares are sold automatically to pay required taxes. Such sales are generally viewed as tax-related compliance actions rather than a direct statement of the insider’s view on the company’s stock. Retail investors should consider this alongside other insider activity and company fundamentals.