Form 4: SpringWorks Therapeutics Director Receives Initial Equity Grants

Martin Mackay, a director at SpringWorks Therapeutics, received initial equity grants consisting of restricted stock units and stock options as part of the company's non-employee director compensation policy.

Summary

• On July 29, 2024, Martin Mackay, a director at SpringWorks Therapeutics, received an initial equity grant.
• The grant includes 9,963 restricted stock units (RSUs) and options to purchase 29,445 shares of common stock.
• The RSUs will vest in three equal annual installments starting July 29, 2024, contingent upon continued service to the Issuer.
• The stock options have an exercise price of $36.80 and will vest in equal monthly installments over 36 months following July 29, 2024, also subject to continued service.

Sentiment

Score: 7

Explanation: The document reflects a standard compensation practice, indicating stability and alignment of interests. It's a neutral-positive event.

Positives

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

Risks

• The value of the equity grants is subject to the performance of SpringWorks Therapeutics' stock.
• The director must remain in service for the RSUs and options to fully vest.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedules of the equity grants.

Industry Context

Equity grants are a common practice for compensating non-employee directors, aligning their interests with the long-term success of the company. The specific terms of the grants are determined by the company's compensation policy.

Comparison to Industry Standards

• Director compensation packages, including equity grants, vary significantly across the pharmaceutical industry depending on company size, stage of development, and board responsibilities.
• Comparable companies like BioNTech or Moderna also utilize equity grants as part of their director compensation packages.
• The vesting schedules are fairly standard, with both time-based and performance-based vesting being common.

Stakeholder Impact

• The equity grants align the director's interests with those of the shareholders, potentially leading to better corporate governance and decision-making.
• The grants do not have a direct impact on employees, customers, suppliers, or creditors.

Key Dates