Form 4: Pulmonx Director Thomas Burns Receives Significant Restricted Stock Unit Grant

Pulmonx Corporation's Director, Thomas William Burns, was granted 37,153 Restricted Stock Units, increasing his direct beneficial ownership to 73,399 shares.

Summary

• Thomas William Burns, a Director of Pulmonx Corporation (LUNG), was granted 37,153 shares of common stock in the form of Restricted Stock Units (RSUs) on June 2, 2025.
• These RSUs were acquired at a price of $0, indicating a grant rather than a purchase.
• Following this transaction, Mr. Burns' direct beneficial ownership in Pulmonx Corporation increased to 73,399 shares of common stock.
• The RSU grant is payable solely in common stock and vests on the earlier of (i) the one-year anniversary of the grant date (June 2, 2025, or the next business day) or (ii) the date of the Annual Meeting of Stockholders for the year subsequent to the grant date.
• The Form 4 filing was signed by David Aaron Lehman, Attorney-in-Fact, on June 4, 2025, under a Power of Attorney dated March 24, 2025.

Sentiment

Score: 6

Explanation: The document reports a routine RSU grant to a director, which is a positive for aligning management interests with shareholders but has a neutral impact on immediate company performance or financial health. The Power of Attorney is a standard governance document.

Positives

• The grant of Restricted Stock Units (RSUs) to a director aligns their interests with long-term shareholder value, as the value of the compensation is tied to the company's stock performance.
• The RSU grant serves as a form of equity compensation for the director's service, which is a standard practice for attracting and retaining qualified board members.

Negatives

• The issuance of new shares upon the vesting of RSUs can lead to minor dilution for existing shareholders, although this is a common and expected aspect of equity compensation plans.

Future Outlook

NA

Industry Context

This Form 4 filing reports a routine insider transaction involving equity compensation for a director, which is a common practice across all industries for publicly traded companies. It does not provide specific insights into broader industry trends or competitive dynamics within the medical device sector.

Comparison to Industry Standards

• The grant of Restricted Stock Units is a standard form of equity compensation for directors in publicly traded companies, aligning their interests with long-term company performance. The specific amount of the grant would typically be benchmarked against compensation practices for directors at peer companies within the medical device or healthcare technology sector, though this document does not provide such comparative data.

Corporate Governance

Related Party Transactions

• The grant of Restricted Stock Units to Thomas William Burns, a director of Pulmonx Corporation, constitutes a transaction between the company and a related party (an insider), which is a common and disclosed form of executive and director compensation.

Stakeholder Impact

• Shareholders: Experience minor potential for dilution from the future issuance of new shares upon RSU vesting, but the grant aligns the director's interests with long-term shareholder value creation.
• Employees: No direct impact on employees is mentioned in this filing.

Next Steps

• Vesting of the granted Restricted Stock Units (RSUs) on the earlier of June 2, 2026 (one-year anniversary) or the date of the Annual Meeting of Stockholders for the year subsequent to the grant date.

Key Dates

Keywords

Pulmonx Corporation, LUNG, SEC Form 4, Insider Transaction, Restricted Stock Units, RSU Grant, Director Compensation, Thomas William Burns, Beneficial Ownership, Equity Compensation, Corporate Governance