Form 4: Procept BioRobotics Director Larry Wood Reports Stock and Option Awards

Director Larry Wood reports the acquisition of restricted stock units and stock options in Procept BioRobotics Corp.

Summary

• On April 18, 2024, Larry Wood, a director of Procept BioRobotics Corp, was granted 3,054 restricted stock units (RSUs) and an option to purchase 5,284 shares of common stock.
• The RSUs vest in three equal annual installments starting April 18, 2025, contingent upon continued service.
• The stock options also vest in three equal annual installments starting April 18, 2025, contingent upon continued service, and have an exercise price of $51.08.
• The options expire on April 17, 2034.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard compensation practices that align management interests with shareholders.

Positives

• The granting of RSUs and stock options to a director aligns their interests with those of the shareholders, incentivizing them to work towards the company's long-term success.
• The vesting schedule encourages continued service and commitment from the director.

Future Outlook

The vesting of the RSUs and stock options is contingent upon the reporting person's continued service with the company.

Industry Context

This type of equity compensation is common in the biotech industry to attract and retain qualified board members.

Stakeholder Impact

• Shareholders may view the equity grants positively as they align the director's interests with the company's long-term performance.
• Employees may see this as a positive sign of the company's commitment to its leadership.

Key Dates