SynAct Pharma’s CFO and board member sell shares to cover taxes on holdings
SynAct Pharma AB (“SynAct”) today announced that board member John Haurum has sold 5,968 shares and Chief Financial Officer Henrik Stage has sold 57,000 shares in SynAct Pharma. The sales correspond to 10 percent of their respective shareholdings and is in accordance with their lock up agreements. The proceeds from the sales will be used to pay for Danish capital gains tax on their SynAct shares. Both Stage and Haurum remain active members of management and the board of directors with long-term interests in the company.
Stage has 514,110 shares after the sale, while Haurum has 53,712 shares remaining.
Under Danish tax law, capital gain tax is due for shares in a publicly traded company, such as SynAct Pharma, when the shares are held in a limited liability company and the total shareholding is less than 10 percent of the publicly traded company. The capital gain tax is calculated based on the public share price at the last day in the fiscal year of the holding company. This is regardless if the gain is materialized by selling the shares or not.
The transactions are reported to the Swedish Financial Supervisory Authority (Finansinspektionen) as required under current regulation.
The information was submitted, through the agency of the contact person below, for publication on March 1, 2021.
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About SynAct Pharma AB
SynAct Pharma AB conducts research and development in inflammatory diseases. The company has a platform technology based on a new class of drug candidates aimed at acute deterioration in chronic inflammatory diseases with the primary purpose of stimulating natural healing mechanisms. For more information: www.synactpharma.com.