Form 4: Elutia Inc. Director Brigid Makes Acquires Stock Options

Director Brigid Makes acquired 31,835 stock options in Elutia Inc. on June 6, 2024, as part of the Non-Employee Director Compensation Program.

Summary

• On June 6, 2024, Brigid Makes, a director of Elutia Inc., was granted 31,835 stock options.
• These options were awarded under the Issuer's Non-Employee Director Compensation Program.
• The exercise price of the options is $3.40.
• The options vest and become exercisable on the earlier of (i) the day immediately preceding the date of the Issuer's first annual meeting following the date of grant and (ii) the first anniversary of the date of grant, subject to continued service on the board.
• The options expire on June 5, 2034.

Sentiment

Score: 7

Explanation: The document reflects a routine director compensation event, which is generally viewed neutrally to positively as it aligns director interests with shareholders. The sentiment is moderately positive due to the alignment of interests.

Positives

• The grant of stock options to a director aligns their interests with those of the shareholders.
• The vesting schedule incentivizes continued service on the board.

Industry Context

This is a standard practice for compensating non-employee directors, aligning their interests with the long-term success of the company.

Comparison to Industry Standards

• Granting stock options to non-employee directors is a common practice among publicly traded companies to incentivize board members and align their interests with shareholders.
• The vesting schedule, contingent on continued service, is also a standard feature in director compensation packages.
• Comparing Elutia's director compensation program to those of similar-sized biotech companies would provide a more detailed benchmark.

Stakeholder Impact

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

Key Dates