4/A: EXAGEN Director Amends SEC Filing to Correct Stock Option Holdings

EXAGEN Inc. Director Paul Kim filed an amended Form 4 to correct an error in his previously reported beneficial ownership of stock options, clarifying he holds 9,000 options, not 18,000.

Summary

• Paul Kim, a Director of EXAGEN Inc. (XGN), filed an amended Form 4/A on June 12, 2025.
• This amendment corrects an inadvertent error in a previous Form 4 filed on the same date, June 12, 2025.
• The original filing incorrectly stated that Mr. Kim beneficially owned 18,000 stock options following a transaction.
• The corrected filing clarifies that Mr. Kim beneficially owns 9,000 stock options.
• These 9,000 stock options were granted on June 10, 2025, with an exercise price of $7.36 per share.
• The options will vest and become exercisable on the first anniversary of the grant date (June 10, 2026) or the next annual meeting of the Issuer's stockholders, whichever occurs first, subject to Mr. Kim's continued service on the board.
• The stock options are set to expire on June 9, 2035.

Sentiment

Score: 5

Explanation: The document is neutral as it primarily serves to correct a previous filing error regarding an insider's stock option holdings, reflecting compliance rather than a significant operational or financial event for the company.

Positives

• The company and its director demonstrated transparency and adherence to SEC regulations by promptly filing an amendment to correct a reporting error.

Negatives

• An initial error in reporting beneficial ownership occurred, necessitating an amendment to the Form 4 filing.

Risks

• The document includes a general warning that intentional misstatements or omissions of facts constitute Federal Criminal Violations under 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Future Outlook

NA

Management Comments

• The filing was signed by Jeffrey G. Black, as attorney-in-fact for Paul Kim.

Industry Context

This filing is a routine regulatory disclosure of an insider transaction correction and does not provide broader industry context or trends.

Related Party Transactions

• Grant of 9,000 stock options to Paul Kim, a Director of EXAGEN Inc., at an exercise price of $7.36 per share, as part of his compensation.

Stakeholder Impact

• Shareholders: Provides accurate and updated information regarding a director's beneficial ownership, ensuring transparency in insider holdings.

Next Steps

• The 9,000 stock options granted to Paul Kim will become fully vested and exercisable on the first anniversary of the grant date (June 10, 2026) or the next annual meeting of the Issuer's stockholders, whichever occurs first, provided Mr. Kim continues his service on the board.

Key Dates

Keywords

EXAGEN Inc., XGN, Paul Kim, Director, Stock Options, Beneficial Ownership, SEC Form 4/A, Amendment, Insider Trading, Equity Compensation