Bolt Biotherapeutics (BOLT) SVP Sarah Nemec Sells Shares

What Happened
Sarah Nemec, Senior Vice President, Finance and PAO of Bolt Biotherapeutics (BOLT), reported both a small open-market purchase and several sales. On 2026-06-05 she purchased 509 shares under the company Employee Stock Purchase Plan (ESPP) at $3.88 each ($1,973). On 2026-09-16 through 2026-09-18 she sold a total of 7,842 shares in three transactions (843 @ $3.77, 2,922 @ $3.32, 4,077 @ $3.24) for aggregate proceeds of approximately $26,072. The sales were disclosed as covering tax-withholding obligations related to the vesting of restricted stock units.

Key Details

• Transaction dates and prices:
  • 2026-06-05: Purchased 509 shares @ $3.88 (total ~$1,973) — ESPP (F1).
  • 2026-09-16: Sold 843 shares @ $3.77 (total ~$3,181) — weighted average; price range $3.60–$4.14 (F2).
  • 2026-09-17: Sold 2,922 shares @ $3.32 (total ~$9,696) — weighted average; price range $3.22–$3.67 (F3).
  • 2026-09-18: Sold 4,077 shares @ $3.24 (total ~$13,195) — weighted average; price range $3.15–$3.41 (F4).
• Total sold: 7,842 shares for ~ $26,072; total acquired: 509 shares for ~$1,973.
• Purpose of sales: Footnotes state the sales were to cover tax withholding for RSUs granted Oct 22, 2025 (i.e., routine withholding, F2–F4).
• Purchase exemption: ESPP purchase was exempt under Rule 16b-3(c) (F1).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Filing timeliness: The report was filed on 2026-09-21 covering transactions through 2026-09-18; the 2-business-day Form 4 filing window for the 9/16–9/18 sales appears to have been exceeded (filed later than that window).

Context

• Purchases under an ESPP can be viewed positively as an officer participating in company benefit plans; the June ESPP buy was small.
• The September sales were described as tax-withholding related to RSU vesting, which is a common, routine reason for officers to sell shares and generally not a directional signal about company prospects.
• No 10% owner or option-exercise activity is reported here; this is officer-level activity.