Form 4: Tevogen Bio Holdings Director Receives 240,000 Restricted Stock Units

Director Curtis L. Patton of Tevogen Bio Holdings Inc. was granted 240,000 restricted stock units (RSUs) on December 23, 2024, which will vest over four years.

Summary

• Curtis L. Patton, a director at Tevogen Bio Holdings Inc., received a grant of 240,000 restricted stock units (RSUs) on December 23, 2024.
• These RSUs were granted under the company's 2024 Omnibus Incentive Plan.
• The RSUs will vest in four equal annual installments, starting on January 1, 2025.
• Vesting is contingent upon Mr. Patton remaining in service with Tevogen Bio Holdings Inc. on the vesting dates.
• Each RSU represents the right to receive one share of the company's common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard corporate practice of incentivizing directors with equity, which is generally viewed positively. There are no indications of negative news or concerns.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the director.

Future Outlook

The RSUs will vest over the next four years, contingent on the director's continued service with the company.

Industry Context

The granting of stock-based compensation is a common practice in the biotechnology industry to attract and retain key personnel.

Comparison to Industry Standards

• Stock-based compensation, such as RSUs, is a standard practice for incentivizing directors and executives in publicly traded companies, particularly in the biotech sector.
• The four-year vesting schedule is also a common approach to ensure long-term alignment of interests.
• Companies like Amgen, Gilead Sciences, and Regeneron Pharmaceuticals also use similar equity-based compensation plans for their directors and executives.

Stakeholder Impact

• Shareholders may view the RSU grant as a positive sign of aligning director interests with company performance.
• The director is incentivized to contribute to the long-term success of the company.

Next Steps

• The RSUs will vest annually over the next four years, provided the director remains in service.

Key Dates

Keywords

restricted stock units, RSUs, Tevogen Bio Holdings, director, equity compensation, stock grant, vesting