Chung Jane 4

What Happened
Jane Chung, CEO of Sutro BioPharma, had 788 restricted stock units (RSUs) convert into 788 shares on 2026-03-04 (reported as exercise/conversion of a derivative, code M). The company withheld 282 of those shares to satisfy income tax withholding at an indicated value of $21.31 per share (reported as disposition, code F), totaling $6,009. Net shares issued to Chung after withholding were 506. The Form 4 was filed on 2026-03-06 (appears timely).

Key Details

• Transaction date: 2026-03-04; Form 4 filed: 2026-03-06.
• Items reported:
  • M: 788 shares acquired at $0.00 (RSU settlement).
  • F: 282 shares withheld/disposed at $21.31 for tax withholding = $6,009 (not an open-market sale).
• Net shares received: 788 − 282 = 506 shares (based on the reported lines).
• Shares owned after transaction: not disclosed in the provided excerpt.
• Footnotes:
  • F1: Withheld shares satisfy income tax withholding; not a sale by the reporting person.
  • F2: Each RSU equals one share upon settlement.
  • F3: RSUs vest 1/4 annually; first tranche vested 3/4/2023 (this tranche vested per the schedule).

Context
This was an RSU settlement with net share withholding for taxes (a routine, non‑market transaction). Exercise price $0 indicates these were RSUs converting to stock, not option purchases. Withholding to cover taxes is common and does not by itself signal a buy or sell decision in the open market.