Form 4: Cocrystal Pharma's President and Co-CEO Sam Lee Reports Transaction

Sam Lee, President and Co-CEO of Cocrystal Pharma, reports the acquisition and disposal of common stock and restricted stock units.

Summary

• On October 9, 2024, Sam Lee, President and Co-CEO of Cocrystal Pharma, reported a transaction involving the company's securities.
• Lee acquired 40,000 shares of common stock.
• Lee disposed of 76,355 shares of common stock.
• The transaction involved 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 as it primarily reports transactions without indicating a strong positive or negative outlook.

Positives

• The vesting of RSUs is tied to continued service, potentially incentivizing the executive to remain with the company.

Future Outlook

The vesting schedule of the RSUs extends into the future, with the final vesting date dependent on continued service and potentially accelerated by a change of control.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track management's sentiment and actions regarding their company's stock.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units (RSUs) as a way to align management's interests with those of shareholders.
• Vesting schedules for RSUs typically range from three to five years, with vesting contingent upon continued employment.
• Change of control provisions are also common, allowing for accelerated vesting in the event of a merger or acquisition.

Stakeholder Impact

• The transactions may influence investor perception of the company's stock.

Key Dates