Vicarious Surgical Inc. (NYSE:RBOT) CFO and Treasurer, William John Kelly, sold shares of the company to meet tax withholding obligations related to the vesting of restricted stock units. The transaction, which took place on June 3, 2024, involved the sale of 6,528 shares at a weighted average price of $0.3213 per share, totaling approximately $2,097.
The sale was executed in multiple trades with prices ranging from $0.3099 to $0.3399 per share. Following the transaction, Kelly still owns a total of 504,767 shares of Vicarious Surgical Inc. The company, which is known for its innovative contributions to the field of orthopedic, prosthetic, and surgical appliances and supplies, has its shares listed under the ticker RBOT on the New York Stock Exchange.
The reported sales were specifically conducted to cover the tax liabilities that arose from the vesting of restricted stock units granted to Kelly on June 2, 2023. It is a common practice for executives to sell a portion of their vested shares to satisfy tax obligations incurred upon the vesting of equity awards.
Vicarious Surgical Inc. and Kelly have both agreed to provide further information regarding the number of shares sold at each separate price upon request by the Securities Exchange Commission, Vicarious Surgical Inc., or any of its security holders.
This financial move comes as part of the regular financial planning and obligations of company executives, and it reflects a routine aspect of stock compensation and ownership among corporate leaders. The remaining substantial ownership stake held by Kelly indicates continued alignment with the company's success and shareholder interests.
InvestingPro Insights
In light of the recent share sale by Vicarious Surgical Inc.'s (NYSE:RBOT) CFO, it is worth noting that the company's financial position and market performance provide a broader context for understanding such transactions. According to InvestingPro data, Vicarious Surgical has a market capitalization of $47.4 million and exhibits a negative price-to-earnings (P/E) ratio of -0.83, reflecting the company's current lack of profitability. The stock's performance over the past year has seen a significant decline, with a -85.24% return, indicating considerable volatility and potential uncertainty among investors.
An InvestingPro Tip highlights that analysts have recently revised their earnings estimates upwards for the upcoming period, which could suggest a more optimistic outlook for the company's future performance. Additionally, Vicarious Surgical holds more cash than debt on its balance sheet, which is a positive sign of financial stability in the short term. However, it's important to recognize that the company is not expected to be profitable this year and is quickly burning through cash, as noted by other InvestingPro Tips.
For readers interested in a deeper analysis of Vicarious Surgical Inc., InvestingPro offers additional insights and tips that can inform investment decisions. There are currently 9 more InvestingPro Tips available, which can be accessed at https://www.investing.com/pro/RBOT. To gain access to these valuable resources, use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
The financial move by the company's CFO, as part of his regular financial planning, should be viewed within the larger picture of the company's financial health and market performance. These insights can help investors make more informed decisions in light of the company's current dynamics.
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