Form 4: Calidi Biotherapeutics CFO Andrew Jackson Granted Stock Options

Andrew Jackson, CFO of Calidi Biotherapeutics, was granted 300,000 stock options on June 17, 2024, at an exercise price of $0.195.

Summary

• On June 17, 2024, Andrew Jackson, the Chief Financial Officer of Calidi Biotherapeutics, Inc. (CLDI), was granted 300,000 incentive stock options.
• The exercise price for these options is $0.195 per share, which matches the closing price of CLDI's common stock on the grant date.
• The options were granted under the company's 2023 Equity Incentive Plan and are subject to a vesting schedule.
• 25% of the options will vest on October 30, 2024, which is the one-year anniversary of a prior date.
• The remaining 75% of the options will vest monthly over the following 36 months, contingent upon Jackson's continued service to Calidi Biotherapeutics.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. It's a neutral-to-positive event.

Positives

• The grant of stock options aligns the CFO's interests with those of the shareholders, incentivizing him to improve the company's performance.
• The vesting schedule encourages long-term commitment from the CFO.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedule of the options.

Industry Context

Stock option grants are a common practice in the biotechnology industry to attract and retain key executives, aligning their interests with the long-term success of the company.

Comparison to Industry Standards

• Stock option grants are a typical component of executive compensation packages in the biotech industry.
• Companies like Amgen, Gilead Sciences, and Biogen often use stock options to incentivize their executives.
• The vesting schedule described is fairly standard, with vesting occurring over several years to promote long-term commitment.

Stakeholder Impact

• Shareholders may view the stock option grant as a positive sign, aligning management's interests with the company's long-term success.
• Employees may see this as a positive sign of the company investing in its leadership.

Key Dates