Form 4: Anteris Technologies Global Corp. Executive Awarded Stock Options and Performance Units

Anteris Technologies Global Corp.'s Chief Operating Officer, David St Denis, received stock options, share price performance units, and restricted stock units as part of a legacy award assumption.

Summary

• David St Denis, Chief Operating Officer of Anteris Technologies Global Corp., was granted several equity awards on December 16, 2024.
• These awards include stock options at exercise prices of $23.56, $5.65, and $8.25, totaling 265,430 options.
• He also received 700,000 share price performance units and 500,000 restricted stock units.
• The options and performance units were originally issued by Anteris Technologies Ltd and assumed by Anteris Technologies Global Corp.
• The exercise prices for the options were converted from Australian dollars to US dollars using an exchange rate of approximately A$1.00 to $0.64.
• The options vest over three years, with various vesting start dates.
• The share price performance units vest upon achieving certain stock price hurdles or on September 13, 2026.
• The restricted stock units vest in three annual installments starting December 16, 2025.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, which is generally viewed positively as it aligns management interests with shareholders. There are no negative implications.

Positives

• The equity awards align the executive's interests with the company's performance.
• The vesting schedules encourage long-term commitment from the executive.
• The share price performance units provide an incentive for increasing the company's stock price.

Risks

• The value of the stock options and performance units is dependent on the future performance of the company's stock price.
• The vesting of the awards is contingent on the executive's continued service with the company.

Future Outlook

The vesting of the awards is subject to the executive's continued service and, in the case of the share price performance units, the achievement of certain stock price hurdles.

Industry Context

The granting of stock options and performance units is a common practice in the biotechnology industry to incentivize executives and align their interests with shareholders.

Comparison to Industry Standards

• Stock option grants are a standard form of compensation for executives in the biotech industry, similar to companies like Medtronic and Boston Scientific.
• Performance-based equity awards, such as the share price performance units, are also common, aligning executive compensation with shareholder value creation, similar to incentive plans at companies like Edwards Lifesciences.
• The vesting schedules are typical for executive equity awards, designed to retain talent and encourage long-term performance, comparable to vesting schedules at many publicly traded companies.

Stakeholder Impact

• Shareholders may view the equity awards positively as they incentivize management to improve company performance.
• Employees may see the awards as a sign of the company's commitment to its leadership.

Key Dates

Keywords

stock options, share price performance units, restricted stock units, equity awards, executive compensation, Anteris Technologies, AVR