Form 4: C4 Therapeutics Director Kenneth Anderson Receives Stock in Lieu of Cash Compensation

Director Kenneth Anderson acquired 2,320 shares of C4 Therapeutics common stock in lieu of cash compensation, according to a Form 4 filing.

Summary

• Kenneth Anderson, a director of C4 Therapeutics, acquired 2,320 shares of common stock on July 1, 2024.
• The shares were issued in lieu of cash compensation for services as a non-employee director, as per the Issuer's Non-Employee Director Compensation Policy.
• The price per share was $4.85, based on the closing market price of C4 Therapeutics common stock on July 1, 2024.
• Following the transaction, Anderson directly owns 114,671 shares.
• Anderson also has indirect ownership through spousal holdings and grantor retained annuity trusts.
• The filing also details indirect ownership through various trusts, with Anderson disclaiming beneficial ownership except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: Neutral sentiment. The filing simply reports a routine transaction related to director compensation.

Positives

• The acquisition of shares by a director can be seen as a positive sign, indicating confidence in the company's future.

Industry Context

This type of transaction, where directors receive stock in lieu of cash, is a common practice in corporate governance to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash and equity.
• The specific allocation to equity can vary widely based on company size, industry, and individual director roles.
• Comparing C4 Therapeutics' director compensation structure to similar biotech companies would provide a more detailed benchmark.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it slightly increases the number of outstanding shares.

Key Dates