Form 4: Foghorn Therapeutics Executive Fanny Cavalie Reports Changes in Beneficial Ownership
SEC Form 4
Fanny Cavalie, Chief Strategy/Bus Ops Officer of Foghorn Therapeutics, files a Form 4 indicating changes in beneficial ownership due to ceasing to be an officer of the company.
Summary
- Fanny Cavalie, formerly Chief Strategy/Bus Ops Officer at Foghorn Therapeutics Inc. (FHTX), filed a Form 4 with the SEC.
- The filing reports changes in beneficial ownership of securities.
- The reason for the filing is that the Reporting Person is no longer an officer of the Issuer within the meaning of Rule 16a-1 of the Securities Exchange Act of 1934, as amended.
- Cavalie directly owns 86,992 shares of Common Stock.
- Cavalie also holds various stock options with different exercise prices and expiration dates, including options to buy 5,575 shares at $0.73, 10,135 shares at $3.72, 59,459 shares at $8.77, 50,000 shares at $16.63, 125,000 shares at $14.87, 65,000 shares at $8.38 and 80,000 shares at $3.06.
- The options vest quarterly, with some already fully vested and others vesting in the future.
Sentiment
Score: 5
Explanation: This is a neutral filing related to an executive's departure and changes in stock ownership. It doesn't inherently indicate positive or negative sentiment.
Industry Context
Executive departures and changes in beneficial ownership are common in publicly traded companies, particularly in the biotech sector. These filings are a routine part of regulatory compliance and provide transparency into the holdings of company insiders.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Chief Strategy/Bus Ops Officer | Fanny Cavalie | 06/21/2024 | Reporting Person is no longer an officer of the Issuer |
Stakeholder Impact
- Shareholders may be interested in the changes in insider ownership.
- Employees may be affected by the departure of a key executive.
Key Dates
| Date | Description |
|---|---|
| 03/19/2019 | 25% of options with exercise price $0.73 vested, followed by quarterly vesting. |
| 01/30/2020 | 25% of options with exercise price $3.72 vested, followed by quarterly vesting. |
| 08/18/2021 | 25% of options with exercise price $8.77 vested, followed by quarterly vesting. |
| 01/28/2022 | 25% of options with exercise price $16.63 vested, followed by quarterly vesting. |
| 01/26/2023 | 25% of options with exercise price $14.87 vested, followed by quarterly vesting. |
| 01/26/2024 | 25% of options with exercise price $8.38 vested, followed by quarterly vesting. |
| 01/23/2024 | 25% of options with exercise price $3.06 vests, followed by quarterly vesting. |
| 06/21/2024 | Date of Earliest Transaction |
| 06/24/2024 | Date of Form 4 signature. |
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