Form 4: Nuvalent Director Matthew Shair Reports Stock and Option Awards
SEC Form 4 Filing
Director Matthew Shair reports acquisition of stock and option awards in Nuvalent, Inc.
Summary
- On June 12, 2024, Matthew Shair, a director of Nuvalent, Inc., reported the acquisition of 2,499 shares of Class A Common Stock issuable under restricted stock units (RSUs) at a price of $0.00.
- These RSUs vest in full on the earlier of June 12, 2025, or the date of Nuvalent, Inc.'s next annual meeting of stockholders, contingent upon continued service to the company.
- Shair also acquired a stock option to buy 3,789 shares of Class A Common Stock at an exercise price of $80.03, which also vests on the earlier of June 12, 2025, or the date of the next annual meeting, subject to continued service.
- Following these transactions, Shair directly owns 1,427,197 shares of Class A Common Stock and indirectly owns 234,522 shares through the Matthew D. Shair 2021 Irrevocable Family Trust.
- He also directly owns options for 3,789 shares.
Sentiment
Score: 6
Explanation: Neutral sentiment as it is a standard regulatory filing reporting stock and option awards. The vesting conditions suggest a positive outlook for continued service.
Positives
- The grant of RSUs and stock options to a director aligns their interests with the long-term success of the company.
- The vesting conditions tied to continued service incentivize the director to remain with the company.
Future Outlook
The document does not contain specific forward-looking statements, but the vesting of RSUs and stock options is tied to continued service, suggesting an expectation of ongoing involvement from the director.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- Shareholders are informed about changes in insider ownership, which can influence investor confidence.
- Employees may view insider stock ownership as a sign of confidence in the company's future.
Key Dates
| Date | Description |
|---|---|
| 06/12/2024 | Date of transaction: Acquisition of RSUs and stock options. |
| 06/12/2025 | Vesting date for RSUs and stock options (or earlier if the next annual meeting occurs before this date). |
| 06/14/2024 | Date of Form 4 signature. |
| 06/12/2034 | Expiration date of the stock options. |
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