Form 4: Atara Biotherapeutics Former Executive Eric J. Hyllengren Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Former Atara Biotherapeutics executive Eric J. Hyllengren reports the cancellation of employee stock options and a corresponding cash payment.
Summary
- Eric J. Hyllengren, a former EVP, CFO & COO of Atara Biotherapeutics, filed a Form 4 detailing changes in his beneficial ownership.
- The report indicates the cancellation of several employee stock options (right to buy) with various exercise prices and expiration dates.
- These options were cancelled by mutual agreement between Hyllengren and Atara Biotherapeutics.
- In exchange for the cancellation, Hyllengren will receive a total cash payment of $100.
- The transactions occurred on March 31, 2025.
- The options had different vesting schedules, generally involving initial vesting followed by monthly installments, contingent on continuous service.
Sentiment
Score: 5
Explanation: The document is neutral, simply reporting a transaction. It doesn't inherently suggest positive or negative sentiment regarding the company's future.
Positives
- The reporting person receives a cash payment of $100 as consideration for the cancellation of the options.
Negatives
- The reporting person's holdings of Atara Biotherapeutics stock options have decreased.
Industry Context
Form 4 filings are a routine part of the US stock market, providing transparency into the transactions of company insiders and their potential impact on stock prices.
Stakeholder Impact
- The cancellation of stock options has a minimal impact on shareholders, employees, customers, suppliers, and creditors.
Key Dates
| Date | Description |
|---|---|
| 08/20/2022 | Date exercisable for 1,900 shares under one of the cancelled employee stock options. |
| 05/01/2023 | Initial vesting date for several of the cancelled stock options. |
| 03/31/2025 | Date of the reported transactions (cancellation of stock options). |
| 09/03/2025 | Expiration date for 1,900 shares under one of the cancelled employee stock options. |
| 02/05/2029 | Expiration date for 460 shares under one of the cancelled employee stock options. |
| 02/28/2030 | Expiration date for 496 and 154 shares under two of the cancelled employee stock options. |
| 02/28/2031 | Expiration date for 381 and 350 shares under two of the cancelled employee stock options. |
| 02/29/2032 | Expiration date for 262 and 543 shares under two of the cancelled employee stock options. |
| 02/28/2033 | Expiration date for 331 and 8,961 shares under two of the cancelled employee stock options. |
| 04/02/2025 | Date of the report filing. |
Keywords
Form 4, beneficial ownership, stock options, Atara Biotherapeutics, Hyllengren, cancellation
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.