Form 4: ImmunityBio CEO Adcock Vests RSUs, Sells for Tax

ImmunityBio CEO Richard Adcock vested 274,122 restricted stock units, acquiring common stock and selling a portion to cover tax liabilities.

Summary

• Richard Adcock, CEO & President and Director of ImmunityBio, Inc. (IBRX), reported a change in beneficial ownership.
• On February 10, 2026, 274,122 Restricted Stock Units (RSUs) vested and converted into common stock.
• Concurrently, 140,048 shares of common stock were disposed of to cover tax withholding obligations related to the RSU vesting.
• The shares disposed of for tax purposes were valued at $6.93 per share, based on the closing price on February 9, 2026.
• Following these transactions, Richard Adcock directly beneficially owns 485,465 shares of common stock.
• Richard Adcock also continues to hold 548,246 derivative securities in the form of Restricted Stock Units.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive event. While there is a sale of shares, it is for tax purposes related to a planned RSU vesting, which is a routine compensation event. The net effect is an increase in the CEO's direct common stock holdings.

Positives

• The vesting of RSUs indicates a planned compensation event for the CEO, aligning executive incentives with shareholder value over time.
• The net acquisition of 134,074 common shares (274,122 acquired minus 140,048 sold for tax) increases the CEO's direct equity stake in the company.

Negatives

• A portion of the vested shares (140,048 shares) was sold, which, while for tax purposes, represents a reduction in the CEO's direct ownership from the gross vested amount.

Risks

• No specific risks are detailed in this Form 4 filing, as it primarily reports a routine insider transaction.

Future Outlook

The remaining 548,246 Restricted Stock Units held by Richard Adcock are subject to a future vesting schedule, with 33.33% vesting on the first and second anniversaries of February 10, 2025, and 33.34% vesting on the third anniversary.

Industry Context

StockSavvy.ai notes that the vesting of Restricted Stock Units and subsequent sale of shares to cover tax obligations is a standard and common practice for executives receiving equity compensation across various industries. This type of transaction is typically pre-scheduled and does not usually indicate a change in management's outlook on the company's prospects.

Stakeholder Impact

• Shareholders: The transaction is a routine insider compensation event and is unlikely to have a significant direct impact on current shareholders. The net increase in the CEO's direct share ownership could be seen as a minor positive for alignment.

Next Steps

• Future vesting of the remaining 548,246 Restricted Stock Units on the first, second, and third anniversaries of February 10, 2025.

Key Dates

Recommendation

This Form 4 filing details a routine RSU vesting and tax-related sale by the CEO. Such transactions are common and pre-scheduled, typically not signaling a change in the company's fundamental outlook or warranting a shift in investment strategy. Therefore, a 'hold' recommendation is appropriate as this event does not provide new material information to alter an existing investment thesis.

Keywords

ImmunityBio, IBRX, Richard Adcock, Form 4, Insider Transaction, RSU Vesting, Stock Sale, CEO, Equity Compensation