Form 4: SpringWorks Therapeutics Director Freda Lewis-Hall Reports Stock and Option Grants

Director Freda Lewis-Hall reports acquisition of SpringWorks Therapeutics stock and options as part of the company's non-employee director compensation policy.

Summary

• On May 16, 2024, Freda Lewis-Hall, a director of SpringWorks Therapeutics, received a grant of 4,095 shares of common stock and disposed of 14,667 shares.
• Lewis-Hall also acquired options to purchase 12,216 shares of common stock at an exercise price of $44.77, exercisable from May 16, 2024, and expiring on May 16, 2034.
• These transactions are part of the Issuer's Amended and Restated Non-Employee Director Compensation Policy, which provides for annual equity grants to non-employee directors on the date of the Issuer's annual meeting of stockholders.
• The restricted stock units (RSUs) and options vest fully on the earlier of May 16, 2025, or the next annual meeting of stockholders, contingent upon continued service to the Issuer.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as the equity grants are part of a standard compensation package and align director interests with shareholders.

Positives

• The equity grants align the director's interests with those of the shareholders.
• The vesting schedule incentivizes continued service to the company.

Future Outlook

The director's future equity holdings will depend on continued service and vesting of the granted RSUs and options.

Industry Context

Equity grants to non-employee directors are a common practice to align their interests with those of the shareholders and incentivize their service to the company.

Comparison to Industry Standards

• Director compensation packages, including equity grants, vary significantly across the pharmaceutical industry depending on company size, performance, and board responsibilities.
• Comparing SpringWorks Therapeutics' director compensation to that of similar-sized biotech companies would provide a better benchmark.
• Companies like Deciphera Pharmaceuticals, Blueprint Medicines, and Relay Therapeutics could be considered peers for comparison purposes.

Stakeholder Impact

• The equity grants align the director's interests with those of the shareholders, potentially leading to decisions that benefit the company's long-term value.
• The grants have no immediate impact on employees, customers, suppliers, or creditors.

Key Dates