Form 4: Cocrystal Pharma Director Kornberg Reports Acquisition of Restricted Stock Units

Director Roger D. Kornberg reports acquisition of restricted stock units in Cocrystal Pharma, Inc.

Summary

• On October 9, 2024, Roger D. Kornberg, a director of Cocrystal Pharma, Inc., acquired 28,109 restricted stock units (RSUs).
• These RSUs represent a contingent right to receive one share of Cocrystal Pharma's common stock each.
• One half of the RSUs are fully vested, with the balance vesting in eight equal quarterly installments on the last day of each quarter commencing with the quarter ending September 30, 2025, subject to continued services for the Company as of each applicable vesting date.
• Kornberg also indirectly owns 39,769 shares of common stock through the Kornberg-Lorch Living Trust.
• Kornberg disclaims beneficial ownership of the securities held by Kornberg-Lorch Living Trust except to the extent of any pecuniary interest therein.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of stock units granted to a director. The vesting schedule suggests a long-term commitment.

Positives

• The acquisition of RSUs by a director signals confidence in the company's future performance.
• The vesting schedule incentivizes continued service and commitment from the director.

Future Outlook

The RSUs will vest over time, subject to continued service, and will fully vest upon a change of control.

Management Comments

• The grant is exempt from Section 16(b) of the Securities Exchange Act of 1934 by virtue of Rule 16b-3 thereunder, as it was approved by the Board of Directors of the Issuer.
• Kornberg disclaims beneficial ownership of the securities held by Kornberg-Lorch Living Trust except to the extent of any pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency regarding insider transactions in publicly traded companies.

Stakeholder Impact

• The acquisition of RSUs by a director can be viewed positively by shareholders as it aligns the director's interests with the company's long-term success.

Key Dates