Form 4: Aprea Therapeutics Director Acquires Shares and Options Under 10b5-1 Plan

Aprea Therapeutics, Inc. Director Michael Grissinger acquired 1,045 restricted stock units and 4,185 stock options on June 5, 2025, as reported in a recent SEC Form 4 filing.

Summary

• Michael Grissinger, a Director of Aprea Therapeutics, Inc. (APRE), reported the acquisition of securities on June 5, 2025.
• The acquisition included 1,045 shares of common stock in the form of restricted stock units (RSUs), granted at a price of $0.00.
• These RSUs will vest and be settled in common stock on June 5, 2026, contingent on Mr. Grissinger's continued service on the board.
• Additionally, Mr. Grissinger acquired 4,185 stock options with an exercise price of $1.81 per share, also granted at a price of $0.00.
• These stock options will vest in full on June 5, 2026, subject to his continued service on the board, and have an expiration date of June 5, 2035.
• Following these transactions, Mr. Grissinger beneficially owns 2,889 shares of common stock and 4,185 stock options directly.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged trading plan.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as a director acquiring more equity (even if compensation) aligns their interests with shareholders and shows continued commitment. It's a routine compensation event, not indicative of major operational news, but generally viewed favorably.

Positives

• The acquisition of additional shares and options by a director signals continued alignment of management interests with shareholder interests.
• The grant of restricted stock units and stock options at a $0.00 price indicates compensation for board service, which is a common practice for non-employee directors.

Risks

• The vesting of both the restricted stock units and stock options is subject to the reporting person's continued service on the Issuer's board of directors, meaning the benefits are contingent on future employment.

Future Outlook

The restricted stock units and stock options granted to Director Michael Grissinger are scheduled to vest on June 5, 2026, provided he continues his service on the board of directors. The stock options have a long-term expiration date of June 5, 2035, allowing for future potential upside.

Industry Context

This Form 4 filing reflects standard compensation practices for non-employee directors in the biotechnology or pharmaceutical industry, where equity grants like RSUs and stock options are common incentives to align director interests with long-term company performance.

Comparison to Industry Standards

• The grant of restricted stock units and stock options as part of director compensation is a common practice across publicly traded companies, particularly in growth-oriented sectors like biotechnology.
• The vesting schedule tied to continued service is standard for such equity awards, ensuring retention and ongoing commitment from board members.
• The use of a Rule 10b5-1 plan for these transactions is a common compliance measure for insiders to avoid accusations of trading on material non-public information.

Related Party Transactions

• The transaction involves a director of the company acquiring securities, which is a common form of related party transaction (insider trading) reported under Section 16(a).

Stakeholder Impact

• Shareholders: The acquisition of additional equity by a director can be seen as a positive signal, aligning management's interests with shareholder value creation. It increases the director's stake in the company's future performance.

Next Steps

• The restricted stock units and stock options are scheduled to vest on June 5, 2026, subject to continued board service.

Key Dates

Recommendation

Keywords

Aprea Therapeutics, APRE, SEC Form 4, Insider Trading, Director Compensation, Restricted Stock Units, Stock Options, 10b5-1 Plan, Beneficial Ownership