Form 4: Cocrystal Pharma Director Pfenniger Reports Acquisition and Disposal of Common Stock

Director Richard C. Pfenniger Jr. reports acquiring and disposing of Cocrystal Pharma, Inc. common stock and holding restricted stock units.

Summary

• On October 9, 2024, Richard C. Pfenniger Jr., a director of Cocrystal Pharma, Inc., reported acquiring 8,067 shares of common stock.
• On the same day, Pfenniger disposed of 11,400 shares of common stock.
• Pfenniger also holds restricted stock units (RSUs), each representing a contingent right to receive one share of Cocrystal Pharma's common stock.
• 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.
• Shares of common stock will be delivered to the Reporting Person promptly upon vesting, unless the Reporting Person elects to defer delivery.
• The RSUs were granted under the Issuer's 2015 Equity Incentive Plan and will vest in full upon a Change of Control as defined in such Plan.

Sentiment

Score: 5

Explanation: The sentiment is neutral. There are both acquisitions and disposals of shares, making it difficult to assess the overall sentiment without further context.

Positives

• The acquisition of shares by a director could be interpreted as a positive signal about the company's prospects.

Negatives

• The disposal of shares by the same director on the same day could raise concerns, although the reason for the disposal is not specified.

Risks

• The vesting of RSUs is contingent upon continued service, so any departure of the director could impact the vesting schedule.
• The disposal of shares by a director could be perceived negatively by investors.

Future Outlook

The remaining RSUs will vest 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.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. Monitoring these filings can offer insights into management's perspective on the company's stock.

Stakeholder Impact

• Shareholders may react to the reported transactions, potentially influencing the stock price.

Key Dates