Form 4: Revance Therapeutics Director Kolaja Receives Stock Awards

Director Carey O'Connor Kolaja of Revance Therapeutics received a restricted stock award and a stock option grant on May 1, 2024.

Summary

• Carey O'Connor Kolaja, a director at Revance Therapeutics, received 15,000 shares of common stock and a stock option for 23,458 shares on May 1, 2024.
• The common stock was granted as an annual restricted stock award (RSA) under the company's Non-Employee Director Compensation Policy.
• The shares underlying the RSA will vest on the earlier of May 1, 2025, or the day before the next annual stockholder meeting, contingent on continuous service as a director.
• The stock option, with an exercise price of $3.795, also vests on the earlier of May 1, 2025, or the day before the next annual stockholder meeting, subject to continuous service.
• Following the transaction, Kolaja directly owns 31,561 shares of Revance Therapeutics common stock and options for 23,458 shares.

Sentiment

Score: 7

Explanation: The document reflects a standard corporate practice of compensating directors with equity, which is generally viewed positively as it aligns interests with shareholders. There are no indications of negative news or concerns.

Positives

• The grant of stock and options to a director aligns their interests with those of the shareholders.
• The vesting schedule incentivizes continued service and commitment to the company.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedule of the awards.

Industry Context

This type of equity compensation is common for directors of publicly traded companies to align their interests with shareholders and incentivize long-term value creation.

Comparison to Industry Standards

• Director compensation packages, including stock options and restricted stock awards, are standard practice among publicly traded companies like Revance Therapeutics.
• Companies such as Allergan (now AbbVie) and Galderma, which operate in similar therapeutic areas, also utilize equity-based compensation for their board members.
• The vesting schedules and terms are generally consistent with industry norms, aiming to retain directors and align their interests with long-term shareholder value.

Stakeholder Impact

• The stock and option grants align the director's interests with those of shareholders, incentivizing decisions that increase shareholder value.
• The grants have no immediate impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Revance Therapeutics, Director Compensation, Stock Option, Restricted Stock Award, RVNC, Kolaja, Beneficial Ownership