Form 4: Revance Therapeutics CEO Mark Foley Reports Stock Award Vesting
SEC Form 4 Filing
Revance Therapeutics CEO Mark Foley reports the vesting of performance-based restricted stock units (PSUs) based on the achievement of revenue goals.
Summary
- On February 3, 2025, Revance Therapeutics CEO Mark Foley reported the vesting of 27,933 shares of common stock.
- These shares resulted from the vesting of performance-based restricted stock units (PSUs) granted on January 31, 2023.
- The PSUs vest over a three-year period based on the achievement of revenue goals.
- The Issuer's Compensation Committee certified a portion of the PSUs eligible to vest based on the achievement of a revenue goal, measured from January 1, 2024, through December 31, 2024.
- Vesting was also subject to the Reporting Person remaining in continuous service through the vesting date.
- Following the transaction, Foley directly owns 1,024,868 shares of common stock.
- Foley also indirectly owns 110,913 shares held by the Mark and Dana Foley, Trustees, Foley Family Trust U/A DTD 4/10/2002.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. The vesting of PSUs suggests the company is meeting its revenue targets, which is a positive indicator. However, it's a routine filing and doesn't provide enough information for a strong positive sentiment.
Positives
- The vesting of PSUs indicates that Revance Therapeutics achieved certain revenue goals, which is a positive sign for the company's performance.
Future Outlook
The document does not contain specific forward-looking statements, but the vesting of PSUs based on revenue goals suggests continued focus on revenue growth.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It reflects the company's performance-based compensation structure.
Stakeholder Impact
- The vesting of PSUs can be seen as a positive signal to shareholders, indicating that management is incentivized to achieve revenue goals.
- Employees may also view this positively, as it suggests the company is performing well.
Key Dates
| Date | Description |
|---|---|
| 4/10/2002 | Date of Foley Family Trust U/A |
| January 31, 2023 | Date of grant for performance-based restricted stock units (PSUs) |
| January 1, 2024 | Start date for measuring revenue goal achievement |
| December 31, 2024 | End date for measuring revenue goal achievement |
| 02/03/2025 | Date of transaction (vesting of PSUs) |
| 02/05/2025 | Date of signature on the Form 4 filing |
Keywords
Revance Therapeutics, Mark Foley, PSUs, Vesting, Revenue Goals, Form 4, Stock, Ownership
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