CRBP - Corbus Pharmaceuticals Board Member To Sell Shares In Planned Trading | Benzinga
In a recent move signaling strategic financial planning, Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) announced that Dr. Yong Ben, a member of its board of directors, has adopted a Rule 10b5-1 trading plan. This decision, detailed in a Form 8-K filing with the U.S. Securities and Exchange Commission (SEC), allows Dr. Ben to sell up to 10,607 shares of the company’s common stock.
Strategic Sale Plan To Avoid Insider Trading Accusations
Adopting a Rule 10b5-1 plan is a proactive measure that enables insiders of publicly traded companies to prearrange sales of their shares. This setup helps avoid potential insider trading accusations by establishing a trading schedule during periods when the insider does not possess material non-public information. Dr. Ben's plan will commence on September 12, 2024, and will be in effect until September 11, 2025.
Company Context And Recent Developments
Corbus Pharmaceuticals, headquartered in Norwood, Massachusetts, focuses on developing and commercializing innovative therapies for rare, chronic and serious inflammatory and fibrotic diseases. The company’s stock is traded on the Nasdaq Capital Market under the symbol CRBP.
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