Form 4: SpringWorks Therapeutics CFO Francis Perier Jr. Receives Stock Options and Restricted Stock Units
SEC Form 4 Filing
Francis Perier Jr., CFO of SpringWorks Therapeutics, was granted stock options and restricted stock units on January 10, 2025, according to a recent SEC Form 4 filing.
Summary
- On January 10, 2025, Francis I. Perier, Jr., the Chief Financial Officer of SpringWorks Therapeutics, Inc. (SWTX), received a grant of 11,779 restricted stock units (RSUs).
- These RSUs will vest in three tranches: 33% on January 10, 2026, 33% on January 10, 2027, and the remaining 34% on January 10, 2028, contingent upon continued service to the company.
- Perier also received an option to buy 34,419 shares of common stock at a price of $43 per share.
- This option vests in 48 equal monthly installments starting January 10, 2025, also subject to continued service.
- Following these transactions, Perier directly owns 60,889 shares of SpringWorks Therapeutics common stock and options to purchase 34,419 shares.
Sentiment
Score: 7
Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. It's a neutral-positive signal.
Positives
- The grant of RSUs and stock options aligns the CFO's interests with the long-term success of SpringWorks Therapeutics.
- The vesting schedules for both the RSUs and stock options incentivize continued service and commitment from the CFO.
Future Outlook
The document does not contain specific forward-looking statements beyond the vesting schedules of the RSUs and stock options.
Industry Context
Grants of stock options and restricted stock units are common practices in the pharmaceutical industry to incentivize and retain key executives. These grants align executive compensation with company performance and shareholder value.
Comparison to Industry Standards
- Stock option and RSU grants are standard compensation practices in the biotech industry.
- Companies like Amgen, Gilead, and Regeneron routinely use similar equity-based compensation to incentivize their executives.
- The vesting schedules described are typical, with multi-year vesting periods to encourage long-term commitment.
Stakeholder Impact
- Shareholders may view the equity grants positively as they align management's interests with the company's long-term performance.
- Employees may see this as a positive sign of the company's commitment to its leadership.
Key Dates
| Date | Description |
|---|---|
| 01/10/2025 | Date of the transaction: grant of RSUs and stock options. |
| 01/10/2025 | Stock options vest in 48 equal monthly installments following this date. |
| 01/10/2026 | First vesting date for 33% of the RSUs. |
| 01/10/2027 | Second vesting date for 33% of the RSUs. |
| 01/10/2028 | Final vesting date for the remaining 34% of the RSUs. |
| 01/10/2035 | Expiration date of the stock options. |
| 01/14/2025 | Date of signature on the Form 4 filing. |
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