Form 4: Collegium Pharmaceutical Director Michael Heffernan Receives Stock Grant

Director Michael Heffernan of Collegium Pharmaceutical, Inc. was granted 7,693 restricted stock units (RSUs) on May 16, 2024, which will vest on May 16, 2025.

Summary

• Michael Heffernan, a director at Collegium Pharmaceutical, Inc., received 7,693 restricted stock units (RSUs) on May 16, 2024.
• Each RSU represents a contingent right to receive one share of Collegium Pharmaceutical's common stock.
• The RSUs will vest on May 16, 2025, contingent upon Heffernan's continued service as a director.
• The RSUs will be settled in shares of the Issuer's common stock on the vesting date, or earlier upon certain events such as the end of the director's service, death, disability, or a change in control of the Issuer.

Sentiment

Score: 6

Explanation: The document reflects a standard transaction (stock grant to a director). It's neutral to slightly positive as it incentivizes management.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders, incentivizing continued service and contribution to the company's success.

Future Outlook

The RSUs will vest on May 16, 2025, subject to the director's continued service with the Issuer. The RSUs will be settled on such date, or, upon the election of the director, on the earlier of the end of the director's service on the Board of Directors, the director's death or disability, or a change in control of the Issuer, in shares of the Issuer's common stock.

Industry Context

Stock grants to directors are a common practice in publicly traded companies to incentivize and align their interests with those of the shareholders.

Stakeholder Impact

• Shareholders may view the stock grant positively as it aligns the director's interests with the company's performance.

Key Dates