Form 4: Alkermes CFO Iain Michael Brown Reports Share Acquisition and Disposal

Iain Michael Brown, CFO of Alkermes plc, reports the acquisition of 24,565 ordinary shares through vesting of performance-based restricted stock units and the disposal of 7,514 shares to cover tax obligations.

Summary

• On February 6, 2025, Iain Michael Brown, the SVP and Chief Financial Officer of Alkermes plc, reported transactions involving the company's ordinary shares.
• Brown acquired 24,565 ordinary shares due to the vesting of performance-vesting restricted stock unit awards (PRSUs) granted on February 18, 2022.
• These PRSUs had a three-year performance period that ended on December 31, 2024, and their vesting was contingent upon achieving certain pre-specified performance goals and the application of a total shareholder return modifier.
• The reported transaction represents the final vesting event under the 2022 PRSUs.
• Concurrently, Brown disposed of 7,514 ordinary shares at a price of $31.39 to satisfy tax obligations related to the vesting of the PRSUs.
• Following these transactions, Brown beneficially owns 133,395 ordinary shares of Alkermes plc.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The vesting of shares indicates the achievement of performance goals, which is a positive sign. The disposal of shares for tax purposes is a routine transaction.

Positives

• The vesting of performance-based restricted stock units suggests that Alkermes achieved certain pre-specified performance goals, which is a positive indicator.
• The CFO's continued holding of a significant number of shares (133,395) demonstrates confidence in the company's future.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This filing is a routine disclosure related to executive compensation and share ownership, common in publicly traded companies. It provides transparency into the alignment of management's interests with those of shareholders.

Comparison to Industry Standards

• Executive compensation packages often include performance-based equity awards to incentivize executives to achieve company goals.
• The vesting of PRSUs based on pre-specified performance goals and a total shareholder return modifier is a common practice.
• The disposal of shares to cover tax obligations arising from vesting is also a standard procedure.

Stakeholder Impact

• Shareholders may view the vesting of performance-based equity as a positive sign, indicating that management is incentivized to achieve company goals.
• Employees may see the vesting as a reflection of the company's performance and their contributions.

Key Dates

Keywords

Alkermes, Iain Michael Brown, CFO, Ordinary Shares, Performance-Vesting Restricted Stock Units, PRSUs, Vesting, Share Disposal, Beneficial Ownership, SEC Form 4