Form 4: TriSalus Chief of Research Granted Equity Awards

TriSalus Life Sciences' Chief of Research, Bryan F. Cox, was granted 40,000 restricted stock units and 80,000 employee stock options.

Summary

• Bryan F. Cox, Chief of Research at TriSalus Life Sciences, Inc. (TLSI), was granted 40,000 shares of common stock in the form of Restricted Stock Units (RSU Award) on November 24, 2025.
• The RSU Award vests in four equal annual installments, commencing on November 24, 2025, contingent upon continued employment.
• Mr. Cox also received 80,000 employee stock options on November 24, 2025, with an exercise price of $5.55 per share and an expiration date of November 23, 2035.
• The stock options vest with one-fourth (1/4th) of the shares vesting on the one-year anniversary of November 24, 2025, and 1/36th of the remaining shares vesting each month thereafter, subject to continued employment.
• Following these transactions, Mr. Cox beneficially owns 166,599 shares of common stock and 261,954 derivative securities (employee stock options).

Sentiment

Score: 7

Explanation: The grant of significant equity awards to a key executive aligns their interests with long-term shareholder value, indicating confidence in future performance and a commitment to retention. This is generally viewed positively for corporate governance and executive motivation.

Positives

• The grant of significant equity awards to a key executive, Bryan F. Cox, aligns his long-term interests with those of shareholders, incentivizing value creation.
• Equity compensation is a standard practice for retaining and motivating senior leadership in the life sciences sector.

Negatives

• The value of the equity awards is subject to future stock price performance and continued employment, introducing an element of risk for the executive.
• There is no immediate cash benefit to the company or the executive from these grants, as they are future-vesting equity.

Risks

• The value of the restricted stock units and stock options is subject to the future market price fluctuations of TriSalus Life Sciences, Inc. common stock.
• Vesting of both the RSU Award and employee stock options is contingent upon Bryan F. Cox's continued employment through the respective vesting dates, meaning forfeiture could occur if employment ceases.

Future Outlook

The equity grants are designed to incentivize long-term performance and retention of a key executive, aligning his future financial interests with the company's success and shareholder value creation over the vesting periods.

Industry Context

Equity compensation, including restricted stock units and stock options, is a prevalent and critical component of executive compensation packages across the life sciences industry. This practice is widely adopted to attract, retain, and motivate top talent, ensuring that executive interests are closely aligned with the long-term growth and innovation objectives typical of the sector.

Comparison to Industry Standards

• The use of restricted stock units and employee stock options for executive compensation is a standard practice within the life sciences and broader technology sectors, reflecting a common strategy to align executive incentives with shareholder value.
• While specific comparable companies or projects are not detailed in this filing, the structure of these grants is consistent with typical long-term incentive plans observed at similar-stage biotechnology and medical device companies.

Stakeholder Impact

• Shareholders: The grants aim to align the Chief of Research's interests with long-term shareholder value, potentially leading to improved company performance.
• Employees (specifically Bryan F. Cox): Receives significant long-term equity incentives, contingent on continued employment and company performance.

Next Steps

• The restricted stock units will vest in four equal annual installments commencing on November 24, 2025.
• One-fourth of the employee stock options will vest on the one-year anniversary of November 24, 2025, with the remaining shares vesting monthly thereafter.

Key Dates

Keywords

TriSalus Life Sciences, TLSI, Bryan F. Cox, SEC Form 4, Equity Grant, Restricted Stock Units, Stock Options, Executive Compensation, Insider Transaction, Life Sciences