Form 4: Equillium Director Bala Manian Reports Option Transactions Following Repricing Holding Period
SEC Form 4 Filing
Director Bala Manian reports transactions related to stock options in Equillium, Inc. following the lapse of a holding period related to option repricing.
Summary
- Bala Manian, a director of Equillium, Inc., filed a Form 4 detailing changes in beneficial ownership of the company's securities.
- The report indicates transactions related to director stock options, specifically the acquisition and disposal of options at varying exercise prices.
- These transactions occurred on February 14, 2025, following the lapse of a holding period related to the repricing of certain options.
- The repricing, approved on August 7, 2023, and based on the closing price on August 14, 2023, resulted in a lower exercise price of $0.785 per share for the impacted options.
- Manian now holds options to purchase a total of 85,404 shares of common stock at an exercise price of $0.785.
- The options have various vesting schedules and expiration dates.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock option transactions, which has a neutral sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, such as directors and officers, ensuring fair market practices.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to potential dilution from the exercise of stock options.
Key Dates
| Date | Description |
|---|---|
| 2019-06-11 | Grant date for options vesting in twelve equal monthly installments. |
| 2020-05-19 | Grant date for options vesting in twelve equal monthly installments. |
| 2020-05-28 | Grant date for options that became fully vested. |
| 2021-05-26 | Grant date for options vesting in twelve equal monthly installments. |
| 2022-05-24 | Grant date for options vesting in twelve equal monthly installments. |
| 2023-08-07 | Date the Board of Directors approved the repricing of certain options. |
| 2023-08-14 | Date used for the closing price of the Company's common stock to determine the repriced option exercise price. |
| 2025-02-14 | Date of the reported transactions and the lapse of the holding period for the repriced options. |
| 2025-02-19 | Date of signature for the Form 4 filing. |
| 2029-06-10 | Expiration date for some director stock options. |
| 2030-05-18 | Expiration date for some director stock options. |
| 2030-05-27 | Expiration date for some director stock options. |
| 2031-05-25 | Expiration date for some director stock options. |
| 2032-05-23 | Expiration date for some director stock options. |
Keywords
Form 4, Beneficial Ownership, Stock Options, Equillium, Director, Repricing, EQ
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