Form 4: Revance Therapeutics Director Vlad Coric Reports Stock and Option Awards
SEC Form 4 Filing
Director Vlad Coric reports acquisition of stock and option awards from Revance Therapeutics.
Summary
- On May 1, 2024, Vlad Coric, a director of Revance Therapeutics, acquired 15,000 shares of common stock and options to purchase 23,458 shares.
- The common stock was acquired through a restricted stock award (RSA) granted under the company's Amended and Restated 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 options, also granted under the compensation policy, have an exercise price of $3.795 and will vest under the same conditions as the RSA.
- Following these transactions, Coric directly owns 20,784 shares of common stock and options for 23,458 shares.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. It reflects standard compensation practices and aligns director interests with shareholders. There are no indications of negative events 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.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the compensation structure for directors and their alignment with shareholder interests.
Comparison to Industry Standards
- Director compensation packages often include a mix of cash, stock, and options to align their interests with shareholders.
- The vesting schedules are typical, incentivizing long-term commitment and performance.
- Companies like Allergan (now AbbVie) and Evolus, which operate in similar therapeutic areas, also utilize stock-based compensation for their directors.
Stakeholder Impact
- Shareholders may view the stock and option awards positively, as they align the director's interests with the company's long-term success.
- The awards do not have a direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 05/01/2024 | Date of transaction: Vlad Coric acquired common stock and stock options. |
| 05/01/2025 | Vesting date for stock and options (or earlier if the annual stockholder meeting occurs before this date). |
| 04/30/2034 | Expiration date of the stock options. |
| 05/03/2024 | Date of signature for the Form 4 filing. |
Keywords
Revance Therapeutics, Director, Stock Award, Stock Option, Beneficial Ownership, Form 4, RVNC
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