Form 4: Shattuck Labs Director Michael Stewart Lee Acquires Stock Options

Michael Stewart Lee, a director of Shattuck Labs, reports the acquisition of stock options representing the right to purchase 27,700 shares of common stock.

Summary

• Michael Stewart Lee, a director of Shattuck Labs, filed a Form 4 disclosing a transaction involving derivative securities.
• On June 21, 2024, Lee acquired stock options representing the right to purchase 27,700 shares of Shattuck Labs' common stock at an exercise price of $4.37.
• The options vest on the earlier of the one-year anniversary of the grant date or immediately prior to the next annual meeting of the Issuer's shareholders, contingent upon continued service to the Issuer.
• Lee is a managing director of Redmile Group, LLC, and holds the stock option as a nominee on behalf of Redmile, assigning all economic, pecuniary, and voting rights to Redmile.
• Lee disclaims beneficial ownership of the stock option, and the filing of this Form 4 should not be deemed an admission that Mr. Lee is the beneficial owner of the securities.
• Jeremy Green, as the principal of Redmile, may also be deemed to beneficially own the stock option, but both Redmile and Green disclaim beneficial ownership except to the extent of their pecuniary interest.
• Lee was elected to the board of directors of the Issuer as a representative of Redmile and its affiliates.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing (Form 4) detailing stock option grants, which is neither inherently positive nor negative. The sentiment is neutral.

Future Outlook

The stock options vest on the earlier of the one-year anniversary of the grant date or immediately prior to the next annual meeting of the Issuer's shareholders, subject to the Reporting Person's continued service to the Issuer through such date.

Management Comments

• Mr. Lee disclaims beneficial ownership of the stock option, and the filing of this Form 4 shall not be deemed an admission that Mr. Lee is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
• Redmile and Mr. Green disclaim beneficial ownership of the stock option except to the extent of their pecuniary interest therein, and this Form 4 shall not be deemed an admission that Redmile or Mr. Green is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Industry Context

Form 4 filings are standard disclosures required by the SEC for insiders (directors, officers, and principal stockholders) of publicly traded companies, providing transparency into their transactions in the company's securities.

Stakeholder Impact

• The grant of stock options aligns the director's interests with those of the shareholders, incentivizing them to work towards increasing the company's value.

Key Dates