Form 4: Recursion Pharmaceuticals CEO Christopher Gibson Reports Changes in Beneficial Ownership
SEC Form 4
Christopher Gibson, CEO of Recursion Pharmaceuticals, reports a transaction involving the withholding of shares to cover tax obligations and updates on derivative securities holdings.
Summary
- Christopher Gibson, the CEO of Recursion Pharmaceuticals, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On February 18, 2025, 17,132 Class A Common Stock shares were withheld by the issuer to satisfy tax obligations related to the net settlement of restricted stock units at a price of $10.64.
- Following the transaction, Gibson directly owns 1,256,024 shares of Class A Common Stock.
- Gibson also holds derivative securities, including options to purchase Class A Common Stock at various exercise prices and vesting schedules.
- These options have exercise prices ranging from $2.48 to $11.40 and expire between 2030 and 2035.
- Gibson also indirectly owns shares through LAHWRAN-3 LLC (486,000 shares), LAHWRAN-4 LLC (388,000 shares), and the Gibson Family Trust (67,875 shares).
Sentiment
Score: 5
Explanation: This is a routine regulatory filing. It doesn't contain information that would significantly shift investor sentiment positively or negatively.
Positives
- The filing provides transparency into the CEO's holdings and transactions.
- The vesting schedules of the stock options suggest a long-term commitment from the CEO.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Investors often monitor these filings to gauge management's sentiment and alignment with shareholder interests. This filing is typical for executives who receive stock options or restricted stock units as part of their compensation.
Comparison to Industry Standards
- Stock option grants and vesting schedules are common compensation practices in the biotechnology industry, used to incentivize and retain key executives.
- Companies like Amgen, Gilead Sciences, and Vertex Pharmaceuticals also utilize stock options as part of their executive compensation packages.
- The vesting schedules described in the document, with monthly vesting over four years, are fairly standard in the industry.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the CEO's stock ownership.
- The withholding of shares for tax obligations has a minor impact on the overall share count.
Key Dates
| Date | Description |
|---|---|
| 01/31/2021 | Start date for monthly vesting of options for 1,500,000 shares at $2.48. |
| 02/04/2022 | Start date for monthly vesting of options for 416,350 shares at $11.40. |
| 03/01/2022 | Options for 416,350 shares at $11.40 vest monthly from this date. |
| 02/01/2023 | Start date for monthly vesting of options for 813,600 shares at $8.55. |
| 03/01/2023 | Options for 813,600 shares at $8.55 vest monthly from this date. |
| 02/09/2024 | Start date for monthly vesting of options for 666,898 shares at $10.09. |
| 03/01/2024 | Options for 666,898 shares at $10.09 vest monthly from this date. |
| 02/18/2025 | Date of the reported transaction involving the withholding of shares for tax obligations. |
| 03/01/2025 | Options for 1,050,567 shares at $7.25 vest monthly from this date. |
| 02/03/2035 | Expiration date for stock options with an exercise price of $7.25. |
| 02/09/2034 | Expiration date for stock options with an exercise price of $10.09. |
| 02/01/2033 | Expiration date for stock options with an exercise price of $8.55. |
| 02/04/2032 | Expiration date for stock options with an exercise price of $11.40. |
| 12/30/2030 | Expiration date for stock options with an exercise price of $2.48. |
Keywords
beneficial ownership, Form 4, Christopher Gibson, Recursion Pharmaceuticals, stock options, Class A Common Stock, insider trading, RXRX
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