Form 4: HilleVax Director Aditya Kohli Receives New Equity Grant and Reports RSU Adjustments

HilleVax, Inc. Director Aditya Kohli reported the acquisition of 17,199 Restricted Stock Units (RSUs) as part of the company's non-employee director compensation program, alongside the cancellation of 83,906 unvested RSUs following a prior termination of employment.

Summary

• Aditya Kohli, a Director of HilleVax, Inc. (HLVX), reported changes in his beneficial ownership of company securities.
• On June 23, 2025, Mr. Kohli was granted 17,199 Restricted Stock Units (RSUs) under the Registrant's Non-Employee Director Compensation Program.
• These newly granted RSUs will vest 100% on the first anniversary of the grant date (June 23, 2026) or upon a Change in Control, provided Mr. Kohli continues his service on the board.
• The filing also reflects the cancellation of 83,906 previously outstanding and unvested RSUs awarded to Mr. Kohli, which occurred following his termination of employment and were not subject to acceleration.
• Following these transactions, Mr. Kohli beneficially owns 698,171 shares of Common Stock.

Sentiment

Score: 6

Explanation: The document reports routine insider transactions, including a new equity grant which is positive for aligning director interests, and a cancellation of unvested awards which is a standard consequence of a prior employment termination. Overall, it's a neutral to slightly positive disclosure.

Positives

• The grant of 17,199 Restricted Stock Units (RSUs) to Director Aditya Kohli aligns his interests with shareholders and is part of a standard non-employee director compensation program.

Negatives

• The cancellation of 83,906 unvested RSUs indicates a forfeiture of potential equity due to a prior termination of employment, though this is a standard consequence for unvested awards.

Risks

• The vesting of the newly granted 17,199 RSUs is contingent upon Aditya Kohli's continued service on the board of directors through the vesting date (June 23, 2026 or a Change in Control), meaning forfeiture if service ceases prematurely.

Future Outlook

The newly granted Restricted Stock Units are expected to vest on June 23, 2026, or earlier upon a Change in Control, provided the director continues in service. This aligns future compensation with long-term company performance and governance.

Industry Context

This filing is a routine disclosure of insider equity transactions, common across publicly traded companies, particularly for non-employee directors whose compensation often includes equity grants to align their interests with shareholders.

Stakeholder Impact

• Shareholders: Changes in insider ownership and compensation structures can influence investor confidence and perceptions of management alignment.
• Employees: While not directly impacting general employees, the compensation structure for directors reflects the company's overall approach to executive and board remuneration.

Next Steps

• The 17,199 Restricted Stock Units are scheduled to vest on June 23, 2026, or upon a Change in Control, subject to Aditya Kohli's continued service as a director.

Key Dates

Keywords

HilleVax, HLVX, SEC Form 4, Restricted Stock Units, RSU, Director Compensation, Equity Grant, Insider Transaction, Beneficial Ownership