Form 4: Pulmonx Director Dana G. Mead Jr. Reports Significant Stock Grant and Trust Distribution

Pulmonx Corporation Director Dana G. Mead Jr. reported the acquisition of 37,153 shares through a Restricted Stock Unit grant and an additional 4,076 shares via a trust liquidation distribution.

Summary

• Dana G. Mead Jr., a Director of Pulmonx Corporation (LUNG), reported changes in his beneficial ownership of the company's common stock.
• On June 2, 2025, Mr. Mead was granted 37,153 shares of common stock through a Restricted Stock Unit (RSU) grant, with a transaction price of $0.
• These RSUs are set to vest on the earlier of the one-year anniversary of the grant date (June 2, 2025, or the next business day) or the date of the Annual Meeting of Stockholders for the year subsequent to the grant.
• Following this RSU grant, Mr. Mead directly beneficially owns 99,714 shares of common stock.
• Additionally, 4,076 shares were received indirectly as a liquidation distribution from KPCB XIII Associates, LLC, the managing member of Kleiner Perkins Caufield & Byers XIII, LLC.
• These indirectly held shares are held by The Mead Family Trust Created Uta Dated August 4, 1998, as Amended.

Sentiment

Score: 7

Explanation: The sentiment is positive as a director is receiving a significant stock grant, aligning their interests with shareholders. This indicates continued commitment from key personnel. The liquidation distribution is a neutral event.

Positives

• The grant of 37,153 Restricted Stock Units to Director Dana G. Mead Jr. aligns his interests with those of shareholders, incentivizing long-term performance and retention.
• The RSU grant, with a vesting schedule, demonstrates a commitment to the company's future performance by a key board member.

Future Outlook

The document primarily reports past transactions and does not provide forward-looking statements or guidance regarding the company's financial performance or strategic direction, beyond the vesting schedule for the RSU grant.

Industry Context

This Form 4 filing details an insider transaction, specifically a stock grant to a director and a trust distribution. Such grants are a common component of executive and director compensation packages in the medical technology and broader corporate sectors, designed to align management incentives with shareholder value. The liquidation distribution is a specific event related to a prior investment vehicle.

Comparison to Industry Standards

• The grant of Restricted Stock Units (RSUs) to a director is a standard practice in corporate governance across various industries, including medical technology, to incentivize long-term commitment and performance.
• The $0 transaction price for the RSU grant is typical for equity compensation where shares are granted as part of a compensation package rather than purchased.

Corporate Governance

Related Party Transactions

• 4,076 shares were received indirectly as a liquidation distribution from KPCB XIII Associates, LLC, which was the managing member of Kleiner Perkins Caufield & Byers XIII, LLC, the direct holder of the shares as disclosed in prior reports. This represents a final distribution from a previously held investment vehicle.

Stakeholder Impact

• Shareholders: The RSU grant to a director increases their alignment with shareholder interests, potentially leading to more focused long-term value creation.
• Management/Employees: The RSU grant is part of the compensation structure for key personnel, which can enhance retention and motivation.

Next Steps

• The 37,153 Restricted Stock Units granted on June 2, 2025, will vest on the earlier of the one-year anniversary of the grant date or the date of the Annual Meeting of Stockholders for the year subsequent to the grant.

Key Dates

Keywords

Pulmonx Corporation, LUNG, SEC Form 4, Insider Transaction, Restricted Stock Units, RSU Grant, Director Compensation, Stock Ownership, Kleiner Perkins, Beneficial Ownership