LO FRANCIS 4
4 · Adaptive Biotechnologies Corp · Filed Mar 9, 2026
Research Summary
AI-generated summary of this filing
Adaptive Biotechnologies (ADPT) CPO Lo Francis Sells Shares
What Happened
Lo Francis, Chief People Officer of Adaptive Biotechnologies (ADPT), disposed of 38,074 shares on 2026-03-05 at $15.09 per share, for a total of $574,537. The sale was a "sell-to-cover" tied to RSU vesting and was used to satisfy tax withholding obligations, not a discretionary market trade.
Key Details
- Transaction date and price: 2026-03-05 — 38,074 shares sold at $15.09 each. Total proceeds reported: $574,537.
- Transaction code: S (sale); described as "open market or private sale" in the filing.
- Footnote (F1): The sale was mandated to cover tax withholding for vested RSUs under the issuer's equity plan and "does not represent a discretionary trade by the Reporting Person."
- Filing/timeliness: Form 4 filed 2026-03-09 (within the standard 2-business-day reporting window).
- Shares owned after transaction: Not specified in the provided filing excerpt.
Context
Sell-to-cover transactions are routine administrative actions that occur when restricted stock units (RSUs) vest and the issuer or broker sells a portion of shares to cover required tax withholding. Such mandated sales generally do not indicate the insider's view on the company's near-term prospects. Purchases by insiders tend to be more informative than routine withholding sales.
Insider Transaction Report
- Sale
Common Stock
[F1]2026-03-05$15.09/sh−38,074$574,537→ 321,967 total
- 2,500(indirect: By Spouse)
Common Stock
Footnotes (1)
- [F1]This transaction represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person.