Form 4: QuidelOrtho Executive Receives Stock Awards and Options
SEC Form 4 Filing
Jonathan Philip Siegrist, EVP of R&D & CTO at QuidelOrtho Corp, was granted restricted stock units and non-qualified stock options on January 29, 2025.
Summary
- Jonathan Philip Siegrist, an executive at QuidelOrtho Corp, received 7,346 restricted stock units and 7,347 non-qualified stock options on January 29, 2025.
- The restricted stock units will vest over three years, with 2,448 shares vesting on January 29, 2026, and the remaining 4,898 shares vesting in equal installments on January 29, 2027 and January 29, 2028.
- The non-qualified stock options will also vest over three years, in equal installments on January 29, 2026, January 29, 2027, and January 29, 2028.
- The exercise price for the non-qualified stock options is $43.52.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices, which are generally viewed positively as they align executive interests with shareholder value. There is no indication of any negative sentiment.
Positives
- The grant of stock options and restricted stock units aligns the executive's interests with those of the shareholders.
- The vesting schedule encourages long-term commitment from the executive.
Industry Context
The granting of stock options and restricted stock units is a common practice in the biotechnology and medical device industry to incentivize and retain key executives.
Comparison to Industry Standards
- Stock-based compensation is a standard practice across the industry, with companies like Abbott, Danaher, and Thermo Fisher Scientific also using similar methods to reward their executives.
- The vesting schedules are typical for executive compensation packages, designed to align long-term performance with executive rewards.
Stakeholder Impact
- Shareholders may view the stock awards positively as they incentivize the executive to improve company performance.
- Employees may see this as a positive sign of the company's commitment to its leadership.
Key Dates
| Date | Description |
|---|---|
| 01/29/2025 | Date of grant for restricted stock units and non-qualified stock options. |
| 01/29/2026 | First vesting date for 2,448 restricted stock units and the first tranche of non-qualified stock options. |
| 01/29/2027 | Second vesting date for restricted stock units and the second tranche of non-qualified stock options. |
| 01/29/2028 | Final vesting date for restricted stock units and the final tranche of non-qualified stock options. |
| 01/31/2025 | Date of filing of the Form 4. |
| 01/29/2035 | Expiration date of the non-qualified stock options. |
Keywords
stock options, restricted stock units, executive compensation, insider trading, QuidelOrtho, equity awards, vesting
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