Vicarious Surgical Inc. (NYSE:RBOT) CEO Adam David Sachs recently sold a portion of his holdings in the company, according to a regulatory filing. The transaction, which occurred on May 20, 2024, involved the sale of 24,502 shares of Class A Common Stock at an average price of $0.388 per share, totaling approximately $9,506.
The sale was made to cover tax withholding obligations related to the vesting of restricted stock units granted to Sachs on May 19, 2022. Following the transaction, Sachs still owns a significant stake in the company, with 1,705,718 shares remaining in his possession.
Investors should note that the shares were sold at varying prices, with the weighted average being $0.388. The actual sales prices ranged from $0.3799 to $0.3987 per share. The company and Sachs have committed to providing full information regarding the number of shares sold at each separate price upon request.
Vicarious Surgical, based in Waltham, Massachusetts, specializes in orthopedic, prosthetic, and surgical appliances and supplies. The company has been incorporated in Delaware and operates under the industrial classification of Orthopedic, Prosthetic & Surgical Appliances & Supplies.
The CEO's stock sale is a routine transaction and is part of the normal course of business for executives managing their personal investment portfolios and financial affairs. As with all insider transactions, this sale was publicly disclosed in compliance with SEC regulations to ensure transparency in the market.
InvestingPro Insights
As Vicarious Surgical Inc. (NYSE:RBOT) navigates the complexities of the medical device market, a look at the company's financial health and stock performance offers valuable insights. With a market capitalization of $52.56 million, RBOT's valuation reflects the challenges faced by emerging companies in this sector. Despite a notable return of 15.72% over the last week and an impressive 32.43% over the past month, the company's longer-term performance shows a significant decline, with a 1-year total return of -81.57%.
InvestingPro Tips for RBOT suggest that the company holds more cash than debt on its balance sheet, which is a positive indicator of financial stability. Additionally, two analysts have revised their earnings estimates upwards for the upcoming period, hinting at potential optimism around the company's future performance. However, it's important to note that analysts do not expect the company to be profitable this year, and the valuation implies a poor free cash flow yield.
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