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.