Form 4: Day One Biopharmaceuticals CEO Jeremy Bender Acquires Stock Options and Restricted Stock Units
SEC Form 4 Filing
Day One Biopharmaceuticals CEO Jeremy Bender reports the acquisition of stock options and restricted stock units (RSUs) in a recent SEC filing.
Summary
- Jeremy Bender, CEO of Day One Biopharmaceuticals, filed a Form 4 with the SEC.
- The filing reports the acquisition of 286,000 stock options with an exercise price of $11.87, vesting monthly starting February 15, 2025, and expiring January 14, 2035.
- Bender also acquired 187,000 restricted stock units (RSUs) that vest in quarterly installments starting February 15, 2025.
- Each RSU represents a contingent right to receive one share of Day One Biopharmaceuticals' common stock upon settlement.
- The vesting of both the options and RSUs is contingent upon Bender's continued service to the company.
Sentiment
Score: 7
Explanation: The document reflects a standard executive compensation practice, suggesting confidence in the company's future. The sentiment is neutral to positive.
Positives
- The acquisition of stock options and RSUs by the CEO aligns his interests with those of the shareholders.
- The vesting schedules incentivize continued service and commitment to the company's long-term success.
Risks
- The value of the stock options and RSUs is dependent on the future performance of Day One Biopharmaceuticals' stock.
- If Bender leaves the company before the options and RSUs fully vest, he will forfeit the unvested portion.
Future Outlook
The document does not contain specific forward-looking statements, but the vesting schedules suggest an expectation of continued service and company growth.
Industry Context
Stock option and RSU grants are common forms of executive compensation in the biopharmaceutical industry, aligning management incentives with shareholder value creation.
Comparison to Industry Standards
- Executive compensation packages in the biopharmaceutical industry typically include a mix of salary, bonus, stock options, and restricted stock units.
- The size and vesting schedule of these grants are often benchmarked against peer companies of similar size and stage of development.
- Companies like BioNTech and Moderna also use stock options and RSUs extensively to incentivize their executives.
Stakeholder Impact
- Shareholders may view the stock option and RSU grants positively, as they align management's interests with the company's long-term success.
- Employees may be motivated by the CEO's commitment to the company, as demonstrated by his acceptance of these grants.
Key Dates
| Date | Description |
|---|---|
| 01/15/2025 | Date of earliest transaction (grant date of options and RSUs) |
| 02/15/2025 | Commencement of monthly vesting for stock options and quarterly vesting for RSUs |
| 05/15/2025 | Second quarterly vesting date for RSUs |
| 08/15/2025 | Third quarterly vesting date for RSUs |
| 11/15/2025 | Fourth quarterly vesting date for RSUs |
| 01/14/2035 | Expiration date of stock options |
| 01/31/2025 | Date of signature on the Form 4 filing |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.