Form 4: C4 Therapeutics CFO Kendra Adams Reports Option Repricing
SEC Filing
Kendra Adams, CFO of C4 Therapeutics, reports an option repricing approved by the Compensation Committee on March 7, 2024.
Summary
- Kendra Adams, the Chief Financial Officer of C4 Therapeutics, filed a Form 4 on March 8, 2024.
- The filing reports changes in beneficial ownership due to an option repricing.
- On March 7, 2024, the Compensation Committee approved the repricing of Adams' stock options.
- The exercise price of one stock option was reduced from $22.71 to $19.
- The repriced option covers 45,000 shares of common stock and vests in sixteen equal quarterly installments, starting May 14, 2022.
- All other terms of the options remain unchanged.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to executive compensation, with neutral sentiment.
Industry Context
Option repricing is a common practice in the biotech industry to incentivize executives, especially when a company's stock price has declined.
Stakeholder Impact
- The option repricing may have a minor positive impact on employee morale and retention.
Key Dates
| Date | Description |
|---|---|
| May 14, 2022 | First vesting date of the stock options. |
| February 13, 2032 | Expiration date of the stock options. |
| March 07, 2024 | Date of option repricing approval by the Compensation Committee. |
| March 08, 2024 | Date of Form 4 filing. |
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