Form 4: Movano Inc. Director Shaheen Wirk Receives Stock Units in Lieu of Fees

Director Shaheen Wirk received 29,070 restricted stock units from Movano Inc. in lieu of directors' fees for a specified period.

Summary

• On May 9, 2025, Shaheen Wirk, a director of Movano Inc., received 29,070 restricted stock units (RSUs).
• These RSUs were granted under the company's Omnibus Incentive Plan.
• The grant was in lieu of directors' fees for the period from October 1, 2024, to June 30, 2025.
• Following this transaction, Wirk directly owns 29,070 shares of Movano Inc. common stock.

Sentiment

Score: 7

Explanation: The document reflects a neutral event (director compensation) with a slightly positive sentiment due to alignment of interests.

Positives

• The grant of RSUs aligns the director's interests with those of the company and its shareholders.
• The use of RSUs in lieu of cash fees can help the company conserve cash.

Industry Context

The use of stock-based compensation for directors is a common practice in many companies, particularly in the technology and healthcare sectors, as it aligns their interests with the long-term success of the company.

Comparison to Industry Standards

• Stock-based compensation for directors is a common practice across various industries, especially in growth-oriented companies.
• Companies like Apple, Google, and Tesla also use stock options and RSUs as part of their director compensation packages.
• The specific amount and terms of the RSUs granted to Shaheen Wirk would need to be compared to similar companies in the medical technology sector to assess whether it is within industry norms.

Stakeholder Impact

• Shareholders may view the RSU grant positively as it aligns the director's interests with the company's performance.
• Employees may see this as a standard compensation practice for directors.

Key Dates

Keywords

Movano Inc., Shaheen Wirk, Director, Restricted Stock Units, RSUs, Omnibus Incentive Plan, Directors' Fees, Form 4, Beneficial Ownership