Form 4: C4 Therapeutics Chief Medical Officer Leonard Reyno Reports Acquisition and Disposal of Common Stock and Stock Options
SEC Form 4 Filing
Chief Medical Officer Leonard Reyno reports transactions involving C4 Therapeutics common stock and stock options, including acquisition of restricted stock units and shares withheld for tax obligations.
Summary
- On February 14, 2025, Leonard Reyno, Chief Medical Officer of C4 Therapeutics, reported acquiring 87,100 shares of common stock in the form of restricted stock units (RSUs) at $0.
- These RSUs vest in four equal annual installments starting February 14, 2026.
- On the same day, 5,145 shares were withheld by C4 Therapeutics at $3.18 to cover tax obligations related to the vesting of RSUs.
- Reyno also acquired options to purchase 130,600 shares of common stock at an exercise price of $3.18, vesting monthly over 48 months starting March 14, 2025.
- Following these transactions, Reyno directly owns 173,764 shares of common stock and holds options for 130,600 shares.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing related to executive compensation. The acquisition of RSUs and stock options is generally a positive sign, but the withholding of shares for taxes is a neutral event.
Positives
- The acquisition of RSUs by the Chief Medical Officer could be seen as a positive sign, indicating confidence in the company's future performance.
- The vesting schedule of the RSUs (four equal annual installments) and stock options (monthly over 48 months) aligns the executive's interests with the long-term success of the company.
Negatives
- The withholding of shares to cover tax obligations, while standard practice, reduces the executive's immediate ownership stake.
Future Outlook
The document does not contain explicit forward-looking statements, but the vesting schedules of the RSUs and stock options suggest a long-term commitment from the executive.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions. The acquisition of RSUs and stock options is a common practice to incentivize executives and align their interests with shareholders.
Comparison to Industry Standards
- Executive compensation packages including RSUs and stock options are standard practice in the biotechnology industry.
- Vesting schedules are typically structured to incentivize long-term performance, with annual or monthly vesting being common.
- Companies like Amgen, Gilead Sciences, and Biogen also utilize similar compensation structures for their executives.
Stakeholder Impact
- Shareholders may view the acquisition of RSUs and stock options by the Chief Medical Officer as a positive sign, indicating confidence in the company's future.
- Employees may be motivated by the alignment of executive incentives with the company's long-term success.
Key Dates
| Date | Description |
|---|---|
| 02/14/2025 | Date of transaction: Acquisition of RSUs and withholding of shares for tax obligations; Grant date of stock options. |
| 03/14/2025 | First monthly vesting date for stock options. |
| 02/14/2026 | First annual vesting date for RSUs. |
| 02/13/2035 | Expiration date of stock options. |
| 02/18/2025 | Date of signature for the Form 4 filing. |
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