Form 4: Cogent Biosciences Director Acquires Stock Options Under Fairmount Funds Arrangement
SEC Form 4 Filing
Director Peter Evan Harwin acquired 44,700 stock options in Cogent Biosciences, Inc. under an arrangement with Fairmount Funds Management LLC.
Summary
- Peter Evan Harwin, a director of Cogent Biosciences, Inc., acquired 44,700 stock options on June 5, 2024.
- The options have an exercise price of $8.92 and expire on June 5, 2034.
- The options vest upon the earlier of the first anniversary of the grant date or the date of the 2025 Annual Meeting of Stockholders.
- Harwin holds the options for one or more investment vehicles managed by Fairmount Funds Management LLC and is obligated to turn over any net cash or stock received to the Adviser for the benefit of a Fairmount Fund.
- Harwin disclaims beneficial ownership of the option and underlying common stock due to this arrangement.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing a stock option grant. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC when insiders of a company (such as directors or officers) trade in the company's securities. This filing indicates a director's acquisition of stock options, which is a common form of executive compensation.
Related Party Transactions
- The Reporting Person's arrangement with Fairmount Funds Management LLC (the 'Adviser'), the Reporting Person holds the option for one or more investment vehicles managed by the Adviser (each, a 'Fairmount Fund').
- The Reporting Person is obligated to turn over to the Adviser any net cash or stock received from the option for the benefit of such Fairmount Fund.
Stakeholder Impact
- The acquisition of stock options by a director could be viewed positively by shareholders as it aligns the director's interests with the company's performance.
- However, the disclaimed beneficial ownership due to the Fairmount Funds arrangement might be seen as slightly less impactful.
Key Dates
| Date | Description |
|---|---|
| 06/05/2024 | Date of transaction: acquisition of stock options. |
| 06/05/2024 | Stock option grant date. |
| 2025 Annual Meeting of Stockholders | Options vest upon the earlier of the first anniversary of the grant date or the date of the 2025 Annual Meeting of Stockholders. |
| 06/05/2034 | Expiration date of the stock options. |
| 06/13/2024 | Date of signature on the Form 4 filing. |
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