Form 4: Vaxcyte COO Jim Wassil Reports Changes in Beneficial Ownership

Jim Wassil, Chief Operating Officer of Vaxcyte, Inc., reports acquisition of shares via restricted stock units and disposition of shares to cover tax obligations.

Summary

• On March 15, 2024, Jim Wassil, the Chief Operating Officer of Vaxcyte, Inc. (PCVX), reported changes in his beneficial ownership of the company's common stock.
• Wassil acquired 4,099 shares of common stock through restricted stock units (RSUs) in lieu of a cash bonus, an option available to all senior management.
• These RSUs are fully vested upon grant and each represents the right to receive one share of Vaxcyte's common stock.
• He also disposed of 1,484 shares to cover tax withholding obligations related to the vesting of RSUs at a price of $69.7 per share.
• Following these transactions, Wassil directly owns 221,289 shares of Vaxcyte common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing reflects standard compensation practices and tax obligations. There is no indication of significant positive or negative news.

Positives

• The acquisition of shares through RSUs in lieu of a cash bonus demonstrates management's confidence in the company's future performance.
• The RSUs are fully vested upon grant, aligning management's interests with those of shareholders.

Negatives

• The disposition of shares to cover tax obligations, while standard, slightly reduces Wassil's holdings.

Management Comments

• The election to receive RSUs in lieu of a cash bonus was available to all of Issuer's senior management.

Industry Context

Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices and tax management strategies.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.

Key Dates