Form 4: Ultragenyx Executive Erik Harris Reports Stock Transactions

EVP & Chief Commercial Officer of Ultragenyx Pharmaceutical Inc., Erik Harris, reports acquisition and disposal of company stock, including vesting of RSUs and sales to cover tax obligations.

Summary

• Erik Harris, EVP & Chief Commercial Officer of Ultragenyx Pharmaceutical Inc., reported transactions involving the company's stock.
• On March 1, 2025, Harris acquired 16,813 shares of common stock through the vesting of Restricted Stock Units (RSUs) under the company's 2023 Incentive Plan.
• An additional 18,443 shares were acquired on the same day due to the conversion of previously granted performance stock units upon certification of the performance metric.
• On March 3, 2025, Harris sold 15,103 shares at a weighted average price of $42.10 to cover required tax withholdings related to the vesting of RSUs.
• Following these transactions, Harris beneficially owns 87,855 shares of common stock.
• Harris was also granted an option to buy 30,246 shares of common stock at an exercise price of $42.92, vesting over four years from March 1, 2025.
• The reporting person also undertakes to provide full information regarding the number of shares sold at each separate price within the range of $41.77 to $42.90 upon request.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The transactions are routine and expected as part of executive compensation. There is no indication of unusual activity or concern.

Positives

• The vesting of RSUs and conversion of performance stock units indicate that the company is meeting its performance goals, which is a positive sign.

Negatives

• The sale of shares to cover tax obligations could be interpreted as a lack of confidence in the company's short-term prospects, although it is a common practice.

Risks

• The stock price could be affected by large sales of shares by insiders, although the reported sale was to cover tax obligations.

Future Outlook

The document does not contain explicit forward-looking statements, but the vesting schedule of the RSUs and stock options suggests a continued employment and performance expectation for Erik Harris.

Industry Context

Insider transactions are common in publicly traded companies and are closely monitored by regulators and investors. The transactions reported here are typical for executive compensation and tax planning.

Comparison to Industry Standards

• Stock option grants and RSU awards are standard components of executive compensation packages in the pharmaceutical industry, used to align management's interests with those of shareholders.
• Companies like Amgen, Biogen, and Gilead Sciences also utilize similar equity-based compensation plans for their executives.
• The vesting schedules and exercise prices are generally comparable to industry norms, designed to incentivize long-term performance.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the potential dilution from the vesting of RSUs and stock options.
• Employees may be affected by the company's performance, which influences the vesting of performance-based equity awards.

Key Dates