Form 4: Elevation Oncology Director Cherrington Receives Stock Options

Julie M Cherrington, a director at Elevation Oncology, was granted stock options for 55,000 shares of common stock on February 29, 2024.

Summary

• Julie M Cherrington, a director at Elevation Oncology, received stock options on February 29, 2024.
• The options grant the right to buy 55,000 shares of Elevation Oncology's common stock at an exercise price of $4.41 per share.
• The stock options vest monthly over three years, starting March 29, 2024, contingent upon Cherrington's continued service to the company.
• The options expire on February 28, 2034.

Sentiment

Score: 7

Explanation: The document indicates a standard compensation practice, suggesting stability and alignment of interests. It's a neutral-to-positive signal.

Positives

• The granting of stock options to a director aligns their interests with those of the shareholders, incentivizing them to work towards the company's success.
• The vesting schedule encourages long-term commitment from the director.

Industry Context

Stock option grants are a common form of executive compensation in the biotechnology industry, aligning management's interests with those of shareholders and incentivizing long-term value creation.

Comparison to Industry Standards

• Stock option grants are a standard component of compensation packages for directors and executives in publicly traded companies, particularly in the biotech sector.
• The size of the grant (55,000 shares) and the vesting schedule (monthly over three years) are within typical ranges for director compensation at companies of Elevation Oncology's size and stage of development.
• Comparable companies like Relay Therapeutics or Black Diamond Therapeutics also utilize stock options as part of their director compensation packages.

Stakeholder Impact

• Shareholders may view the stock option grant as a positive sign, aligning the director's interests with the company's long-term success.
• The director is incentivized to contribute to the company's growth and profitability.

Key Dates