Form 4: Ocular Therapeutix CFO/COO Notman Boosts Stake

Ocular Therapeutix's Chief Financial and Operating Officer, Donald Notman, received significant equity grants, including restricted stock units and stock options, aligning his interests with long-term company performance.

Summary

• Donald Notman, Chief Financial Officer and Chief Operating Officer of Ocular Therapeutix, Inc. (OCUL), reported changes in his beneficial ownership.
• He was granted 79,112 Restricted Stock Units (RSUs) on January 2, 2026, under the 2021 Stock Incentive Plan.
• These RSUs will vest over three years, with 1/3 vesting on the one-year anniversary of the grant date and an additional 1/3 vesting at the end of each successive one-year period thereafter, subject to continued service.
• Notman also acquired 1,373 shares of common stock on December 31, 2025, through the Corporation's Amended and Restated 2014 Employee Stock Purchase Plan.
• Additionally, he was granted stock options to purchase 240,932 shares of common stock on January 2, 2026, with an exercise price of $11.82 per share.
• These stock options vest over four years, with 1/48 vesting monthly beginning on the one-month anniversary of the grant date, subject to continued service.
• Following these transactions, Notman beneficially owns 389,292 shares of common stock and 240,932 derivative securities (stock options).

Sentiment

Score: 7

Explanation: The filing reports routine executive compensation in the form of equity grants, which is generally positive as it aligns management's interests with shareholders. No negative news or unexpected events are present.

Positives

• Significant equity grants to a key executive (CFO and COO) align management's interests with long-term shareholder value.
• The grants demonstrate continued commitment and confidence in the executive's role and the company's future.
• The vesting schedules encourage long-term service and performance from a senior officer.

Future Outlook

The vesting schedules for the granted RSUs (over three years) and stock options (over four years) indicate an expectation of Donald Notman's continued service to Ocular Therapeutix, Inc. for these respective periods.

Industry Context

The granting of restricted stock units and stock options is a common practice in the biotechnology and pharmaceutical industries for executive compensation, aiming to incentivize long-term performance and retain key talent.

Comparison to Industry Standards

• The use of RSUs and stock options for executive compensation is standard practice across publicly traded companies, particularly in growth-oriented sectors like biotech.
• Vesting schedules of 3-4 years for equity grants are typical, designed to align executive incentives with long-term shareholder value creation and retention.
• Specific comparable companies or projects are not detailed in this filing, as it focuses solely on an individual's compensation.

Corporate Governance

Stakeholder Impact

• Shareholders: Positive impact due to increased alignment of a key executive's financial interests with the company's long-term performance and stock value.
• Employees: The Employee Stock Purchase Plan (ESPP) indicates a broader program for employee equity participation.
• Management: Incentivized to remain with the company and drive performance due to vesting equity.

Next Steps

• Continued service of Donald Notman to the Corporation to fulfill vesting conditions for RSUs and stock options.
• Future vesting events for RSUs on the one-year anniversary of the grant date and subsequent years.
• Future monthly vesting events for stock options beginning one month after the grant date.

Key Dates

Keywords

Ocular Therapeutix, OCUL, Donald Notman, SEC Form 4, Insider Trading, Restricted Stock Units, RSUs, Stock Options, Employee Stock Purchase Plan, ESPP, Executive Compensation, Beneficial Ownership