Waters Kevin 4
4 · PROCEPT BioRobotics Corp · Filed Mar 9, 2026
Research Summary
AI-generated summary of this filing
PROCEPT (PRCT) EVP/CFO Kevin Waters Sells Shares
What Happened Kevin Waters, EVP and Chief Financial Officer of PROCEPT BioRobotics (PRCT), had multiple transactions reported for March 2026. He received awards on March 5: 47,462 restricted stock units (RSUs) and a derivative award covering 32,576 shares (both reported at $0.00 acquisition price). On March 6 he sold 6,721 shares in an open‑market transaction at $23.70 per share, generating proceeds of $159,300. The sale was disclosed as to cover tax withholding obligations.
Key Details
- Transaction dates and amounts:
- 2026-03-05: Award of 47,462 RSUs (acquired at $0.00) — see footnote F1 for vesting.
- 2026-03-05: Derivative award of 32,576 shares (acquired at $0.00) — see footnote F3 for vesting schedule.
- 2026-03-06: Open‑market sale of 6,721 shares at $23.70 each = $159,300 (footnote F2: sale to cover tax withholding).
- Shares owned after the transactions: not specified in the provided filing excerpt.
- Footnotes:
- F1: RSUs — 1/4 vest March 5, 2027; then 1/16 of the remaining RSUs vest quarterly over 36 months, subject to continued service.
- F2: Sale was to satisfy tax withholding on vesting of Restricted Stock Units and Performance Stock Units.
- F3: Derivative award vests 1/48th monthly starting March 5, 2026, over four years, subject to continued service.
- Filing timeliness: Form 4 filed 2026-03-09 for transactions dated March 5–6 — reported within the usual two business‑day deadline (timely).
Context The sale was disclosed as a tax‑withholding sale tied to equity vesting (routine), while the March 5 entries represent equity awards (RSUs and an option-like derivative) that vest over time. Awards (acquisitions) are not immediate purchases of stock but contingent rights that convert to shares if vesting conditions are met.
Insider Transaction Report
- Award
Common Stock
[F1]2026-03-05+47,462→ 158,985 total - Sale
Common Stock
[F2]2026-03-06$23.70/sh−6,721$159,300→ 152,264 total - Award
Stock Option (Right to Buy)
[F3]2026-03-05+32,576→ 32,576 totalExercise: $25.35Exp: 2036-03-04→ Common Stock (32,576 underlying)
Footnotes (3)
- [F1]These securities are restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of Common Stock. One-quarter of the RSUs shall vest on March 5, 2027, with onesixteenth of the remaining RSUs vesting quarterly over 36 months, subject to the Reporting Person continuing as a service provider through such date.
- [F2]These shares were sold by the reporting person to cover tax withholding obligations in connection with the vesting of the Restricted Stock Units and Performance Stock Units.
- [F3]1/48th of the shares subject to the Stock Option shall vest monthly from the vesting commencement date of March 5, 2026, over a four year period, subject continued employment or service by the Reporting Person to the Issuer through the applicable vesting date.