Form 4: Precision BioSciences Executive Dario Scimeca Awarded Restricted Stock Units

Dario Scimeca, General Counsel and Secretary of Precision BioSciences, was granted 25,277 restricted stock units (RSUs) on April 18, 2024, vesting annually starting January 20, 2025.

Summary

• On April 18, 2024, Dario Scimeca, the General Counsel and Secretary of Precision BioSciences, received an award of 25,277 restricted stock units (RSUs).
• These RSUs represent a contingent right to receive one share of Precision BioSciences' common stock per unit.
• The RSUs will vest in three substantially equal annual installments, commencing on January 20, 2025.
• Vesting is contingent upon Mr. Scimeca's continued service to Precision BioSciences through each applicable vesting date.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The granting of RSUs is a standard practice and indicates confidence in the executive's ability to contribute to the company's success. However, the value is contingent on future stock performance.

Positives

• The grant of RSUs aligns Mr. Scimeca's interests with those of the shareholders, incentivizing him to contribute to the company's long-term success.
• The vesting schedule encourages continued service and commitment to Precision BioSciences.

Risks

• The value of the RSUs is dependent on the future performance of Precision BioSciences' stock.
• If Mr. Scimeca leaves the company before the RSUs fully vest, he will forfeit the unvested portion.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedule of the RSUs.

Industry Context

Granting stock-based compensation is a common practice in the biotechnology industry to attract, retain, and incentivize key executives. The vesting schedule is designed to align the executive's interests with the long-term performance of the company.

Comparison to Industry Standards

• Stock-based compensation is a standard practice in the biotech industry.
• Companies like CRISPR Therapeutics, Editas Medicine, and Intellia Therapeutics also utilize RSUs and stock options as part of their executive compensation packages.
• The vesting schedules and amounts of these awards vary based on company size, performance, and individual executive roles.

Stakeholder Impact

• Shareholders: The RSU grant could have a dilutive effect if new shares are issued upon vesting.
• Employees: The RSU grant is part of the overall compensation package for a key executive.

Key Dates