Form 4: Protagonist Therapeutics Director William D. Waddill Acquires Shares and Options

Director William D. Waddill of Protagonist Therapeutics acquired 5,130 shares of common stock and 6,584 stock options on January 2, 2025.

Summary

• William D. Waddill, a director at Protagonist Therapeutics, acquired 5,130 shares of common stock on January 2, 2025.
• These shares were granted as restricted stock units, which will vest on January 15, 2026, contingent on continued service.
• Waddill also acquired 6,584 stock options on the same date, with an exercise price of $38.98.
• The stock options vest in 12 equal monthly installments starting January 2, 2025, also subject to continued service.
• Following these transactions, Waddill directly owns 17,130 shares of common stock and 6,584 stock options.

Sentiment

Score: 7

Explanation: The document reflects a standard equity grant to a director, which is generally viewed positively as it aligns interests. There are no negative implications.

Positives

• The acquisition of shares and options by a director signals confidence in the company's future.
• The vesting schedules for both the shares and options incentivize continued service and commitment from the director.

Risks

• The vesting of the restricted stock units and stock options is contingent on continued service, which introduces a risk of forfeiture if the director leaves the company before the vesting dates.

Future Outlook

The vesting of the shares and options is contingent on continued service, suggesting a long-term commitment from the director.

Industry Context

This is a standard practice for incentivizing and aligning the interests of company directors with those of shareholders in the biotechnology industry.

Comparison to Industry Standards

• Equity grants to directors are a common practice in the biotech industry, often including a mix of restricted stock units and stock options.
• Vesting schedules are typically tied to continued service, aligning director interests with long-term company performance.
• The specific terms of the grant, such as the vesting period and exercise price, are generally consistent with industry norms for companies of similar size and stage.

Stakeholder Impact

• The acquisition of shares and options by a director can be viewed positively by shareholders as it indicates confidence in the company's future.

Key Dates

Keywords

Protagonist Therapeutics, William D. Waddill, stock options, restricted stock units, insider trading, share acquisition, director, equity compensation