Form 4: Calidi Biotherapeutics Executive Wendy Pizarro Campbell Granted Stock Options
SEC Form 4 Filing
Wendy Pizarro Campbell, Chief Admin. and Legal Officer of Calidi Biotherapeutics, was granted stock options to purchase 100,000 shares of common stock at an exercise price of $0.195 per share.
Summary
- Wendy Pizarro Campbell, Chief Admin. and Legal Officer of Calidi Biotherapeutics, Inc., filed a Form 4 on June 20, 2024, reporting the grant of stock options.
- On June 17, 2024, Campbell was granted 40,000 incentive stock options at an exercise price of $0.195 per share, vesting in 1/48th installments monthly starting January 1, 2024.
- Additionally, Campbell was granted 60,000 stock options at an exercise price of $0.195 per share, vesting in 1/48th installments monthly starting May 13, 2024.
- The options were granted pursuant to the Issuer's 2023 Equity Incentive Plan and are exempt under Rule 16b-3.
- A Limited Power of Attorney was executed on January 25, 2024, appointing Allan Camaisa, Andrew Jackson, and Michael Cava as attorneys-in-fact to handle SEC filings on Campbell's behalf.
Sentiment
Score: 7
Explanation: The document reflects a standard executive compensation practice, which is generally viewed neutrally to positively as it aligns executive interests with shareholder value. The sentiment is slightly positive due to the incentive provided by the stock options.
Positives
- The grant of stock options aligns the interests of the executive with those of the shareholders.
- The vesting schedule incentivizes continued service to the company.
Industry Context
Stock option grants are a common practice in the biopharmaceutical industry to incentivize executives and align their interests with those of shareholders. These grants are typically governed by equity incentive plans and are subject to SEC regulations regarding insider trading.
Comparison to Industry Standards
- Stock option grants are a common component of executive compensation packages in the biotechnology industry.
- Companies like Amgen, Gilead Sciences, and Biogen also utilize stock options as part of their compensation strategy to attract and retain talent.
- The vesting schedules and exercise prices are generally aligned with industry norms to incentivize long-term performance and shareholder value creation.
Stakeholder Impact
- Shareholders may view the stock option grant positively as it incentivizes the executive to improve company performance.
- Employees may see the grant as a sign of the company's commitment to its leadership team.
Key Dates
| Date | Description |
|---|---|
| 2024-01-25 | Date of Limited Power of Attorney execution |
| 2024-01-01 | Commencement date for vesting of 40,000 stock options |
| 2024-05-13 | Commencement date for vesting of 60,000 stock options |
| 2024-06-17 | Grant date of stock options and date of transaction |
| 2024-06-20 | Date of Form 4 filing |
| 2034-06-17 | Expiration date of stock options |
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