Form 4: Equillium Executive Chairman Daniel Bradbury Acquires and Disposes of Options After Repricing Holding Period Lapses
SEC Form 4 Filing
Daniel Bradbury, Executive Chairman of Equillium, Inc., reports acquiring and disposing of employee stock options following the lapse of a holding period related to a previous repricing.
Summary
- On February 14, 2025, Daniel Bradbury, the Executive Chairman of Equillium, acquired and disposed of Equillium, Inc. employee stock options.
- These transactions occurred after a holding period lapsed related to a repricing of certain options approved by the Board of Directors on August 7, 2023.
- The repricing, based on the closing price of $0.785 per share on August 14, 2023, resulted in a lower exercise price for the impacted options.
- Bradbury acquired options at an exercise price of $0.785 and disposed of options at prices ranging from $1.06 to $7.16.
- The options have various vesting schedules and expiration dates, ranging from 2029 to 2033.
- The transactions involved options for a total of 316,708 shares of common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock option transactions by an executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, such as executives and directors. These filings help investors understand the buying and selling activity of those with the most knowledge of the company.
Stakeholder Impact
- The transactions may have a minor impact on shareholders by slightly diluting the value of existing shares, depending on the overall number of options exercised.
Key Dates
| Date | Description |
|---|---|
| May 28, 2020 | Grant date for options that became fully vested. |
| August 7, 2023 | Board of Directors approved the repricing of certain options. |
| August 14, 2023 | Date used to determine the repriced option exercise price of $0.785 per share. |
| February 14, 2025 | Date of the reported transactions (acquisition and disposal of options) and the lapse of the holding period for the repriced options. |
| February 19, 2025 | Date of the Form 4 filing. |
| February 12, 2029 | Earliest expiration date for some of the options. |
| December 9, 2029 | Expiration date for some of the options. |
| May 27, 2030 | Expiration date for some of the options. |
| January 3, 2031 | Expiration date for some of the options. |
| February 29, 2032 | Expiration date for some of the options. |
| January 2, 2033 | Latest expiration date for some of the options. |
Keywords
Equillium, Bradbury, Stock Options, Form 4, Repricing, Executive Chairman, Beneficial Ownership, Securities
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