secwatch.observer — SEC 8-K summary
======================================

Issuer:     Alector, Inc. (ALEC)
CIK:        0001653087
Form:       8-K
Filed at:   2023-03-13T23:59:59+00:00
Accession:  0000950170-23-007443
Event type: other_material
Sentiment:  neutral
Materiality: 0.20
Item codes: 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Alector reports ~1% cash at Silicon Valley Bank; no material impact expected
----------------------------------------------------------------------------

- As of March 10, 2023, ~1% of total cash, cash equivalents, and marketable securities held at SVB.
- Majority of operating cash held at JPMorgan Chase & Co.; asset management portfolio custodied at U.S. Bancorp.
- Company does not use SVB for payroll; no material impact on operations or payroll obligations expected.
- FDIC appointed receiver for SVB; Treasury, Fed, FDIC approved full depositor protection on March 12.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1653087/000095017023007443/0000950170-23-007443-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1653087/000095017023007443/alec-20230310.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-007443

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer