Microvast Holdings announces departure of chief financial officer
Adam David Sachs, CEO of Vicarious Surgical Inc. (NYSE:RBOT), sold 943 shares of the company’s Class A common stock on February 20, according to a recent SEC filing. The shares were sold at an average price of $14.5332, generating a total of $13,704. The transaction comes amid a remarkable 110% surge in RBOT’s stock price over the past six months, with the company maintaining a strong liquidity position as indicated by its current ratio of 7.44x.
The transaction was made to cover tax withholding obligations related to the vesting of restricted stock units granted in May 2022. Following this sale, Sachs retains ownership of 52,699 shares in the company. According to InvestingPro analysis, RBOT appears slightly undervalued at current levels, with additional ProTips and detailed financial metrics available for subscribers.
Vicarious Surgical, based in Waltham, Massachusetts, is known for its work in the development of surgical robotics technology. While the company holds more cash than debt on its balance sheet, InvestingPro data reveals it is currently unprofitable with an EBITDA of -$64.3 million in the last twelve months.
In other recent news, Vicarious Surgical Inc. announced the upcoming retirement of its Chief Operating Officer, John Mazzola, who will step down on April 1, 2025. Randy Clark, the current President, will take over Mazzola’s responsibilities. Additionally, Vicarious Surgical has entered into a consulting agreement with its former Chief Financial Officer, William Kelly. Kelly will provide advisory services to the company from January 2, 2025, through December 31, 2028, initially receiving a monthly compensation of $10,000. From July 1, 2025, he will transition to an hourly rate. The agreement includes clauses on confidentiality and non-solicitation, ensuring Kelly’s continued commitment to the company. During this period, he will retain vesting rights to stock options and restricted stock units until June 30, 2025. These developments are part of Vicarious Surgical’s ongoing strategic initiatives in the medical device sector.
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