Form 4: Revance Therapeutics CEO Mark Foley Reports Stock Vesting

Revance Therapeutics CEO Mark Foley reports the vesting of performance-based restricted stock units (PSUs) and adjustments to his beneficial ownership.

Summary

• Mark Foley, CEO of Revance Therapeutics, reported a transaction involving the vesting of 70,750 shares of common stock on February 29, 2024, at a price of $0.
• These shares are related to performance-based restricted stock units (PSUs) granted on January 31, 2023, which 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, 2023, through December 31, 2023.
• Vesting is subject to Foley remaining in continuous service through the vesting date of March 15, 2024.
• Following the transaction, Foley directly owns 985,468 shares of common stock.
• Additionally, 110,913 shares are indirectly 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 met certain revenue goals, which is a positive indicator. However, it's a routine filing and doesn't provide significant new information.

Positives

• The vesting of PSUs indicates that Revance Therapeutics achieved certain revenue goals, which is a positive sign for the company's performance.
• Mark Foley's continued service through the vesting date of March 15, 2024, suggests stability in the company's leadership.

Future Outlook

The vesting of PSUs is contingent on continued service through March 15, 2024, suggesting an expectation of continued employment for Mark Foley.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the alignment of executive incentives with company performance.

Stakeholder Impact

• The vesting of PSUs aligns management incentives with shareholder value, potentially benefiting shareholders.
• The vesting of PSUs rewards the CEO for achieving revenue goals.

Key Dates

Keywords

Revance Therapeutics, Mark Foley, PSUs, Vesting, Beneficial Ownership, Form 4, Revenue Goals, Compensation Committee, Common Stock