Form 4: Black Diamond Therapeutics Director Acquires and Disposes of Shares in Lieu of Cash Compensation

Director Shannon Campbell acquired and disposed of shares of Black Diamond Therapeutics common stock on June 21, 2024, as part of the company's non-employee director compensation policy.

Summary

• On June 21, 2024, Shannon Campbell, a director of Black Diamond Therapeutics, acquired 2,011 shares of common stock at a price of $4.98 per share.
• These shares were issued in lieu of cash compensation for annual services as a non-employee director, according to the Issuer's Fifth Amended and Restated Non-Employee Director Compensation Policy.
• On the same day, the director disposed of 2,011 shares of common stock.
• The price reported is based on the closing market price of Black Diamond Therapeutics' common stock on June 20, 2024.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to director compensation, so the sentiment is neutral.

Industry Context

This type of transaction, where directors receive stock in lieu of cash, is a common practice in the biotech industry to align director interests with shareholder value and conserve cash.

Comparison to Industry Standards

• Many biotech companies use stock-based compensation for directors to align their interests with shareholders.
• The specific amount and terms of the compensation plan would need to be compared to peer companies to assess its competitiveness.
• Companies like Amgen, Gilead, and Regeneron also utilize stock options and restricted stock units as part of their director compensation packages.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it involves the issuance of a small number of shares to a director.
• The director benefits from receiving equity in the company, aligning their interests with shareholders.

Key Dates