Form 4: Cassava Sciences Director Pierre Gravier Acquires 10,000 Stock Options

Director Pierre Gravier acquired 10,000 stock options in Cassava Sciences Inc. on May 9, 2024, as part of the Non-employee Director Compensation Program.

Summary

• Pierre Gravier, a director of Cassava Sciences Inc., acquired 10,000 stock options on May 9, 2024.
• The options were granted pursuant to the Non-employee Director Compensation Program approved by stockholders on May 4, 2023.
• The exercise price of the stock options is $21.11.
• The stock options vest over a one-year period at a rate of 1/12 per month and expire on May 9, 2034.
• Following the transaction, Gravier directly owns 10,000 derivative securities.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to positively as it aligns director interests with shareholders.

Positives

• The grant of stock options aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service and contribution to the company.

Industry Context

This is a standard practice for compensating non-employee directors in publicly traded companies, aligning their interests with shareholders through equity ownership.

Comparison to Industry Standards

• Granting stock options to non-employee directors is a common practice among publicly traded companies to incentivize performance and align interests with shareholders.
• The vesting schedule of 1/12 per month over one year is a typical vesting arrangement for director stock options.
• The specific number of options granted and the exercise price would be determined based on factors such as the company's size, market capitalization, and the director's role and responsibilities.

Stakeholder Impact

• The stock option grant aligns the director's interests with those of the shareholders, potentially leading to decisions that benefit the company's long-term value.
• The grant has no immediate impact on employees, customers, suppliers, or creditors.

Key Dates