Form 4: Vaxcyte Director Anne S. Drapeau Reports Significant Equity Grants

Vaxcyte, Inc. Director Anne S. Drapeau has reported the acquisition of 3,041 shares of common stock through restricted stock units and 15,372 stock options, increasing her beneficial ownership in the company.

Summary

• Anne S. Drapeau, a Director of Vaxcyte, Inc. (PCVX), reported changes in her beneficial ownership.
• On June 12, 2025, Ms. Drapeau acquired 3,041 shares of Common Stock in the form of Restricted Stock Units (RSUs) at a price of $0.
• Each RSU represents the contingent right to receive one share of Vaxcyte's Common Stock.
• These RSUs will fully vest on the earlier of June 12, 2026, or the day prior to the next annual meeting of stockholders, subject to acceleration and continuous service.
• Following this transaction, Ms. Drapeau beneficially owns 10,216 shares of Common Stock directly.
• Additionally, on June 12, 2025, Ms. Drapeau acquired 15,372 stock options with an exercise price of $34.46.
• These stock options will vest monthly and fully vest on the earlier of June 12, 2026, or the day prior to the next annual meeting of stockholders, subject to acceleration and continuous service.
• The stock options have an expiration date of June 12, 2035.
• Following this transaction, Ms. Drapeau beneficially owns 15,372 stock options directly.

Sentiment

Score: 7

Explanation: The filing indicates an increase in a director's beneficial ownership through equity grants, which generally aligns the director's interests with shareholders and is a positive sign of commitment, though it is a routine compensation event.

Positives

• The acquisition of additional equity (RSUs and stock options) by a director aligns their interests more closely with those of shareholders, potentially indicating confidence in the company's future performance.
• The grants are part of a compensation package, which is a standard practice for retaining and incentivizing key personnel.

Future Outlook

The acquired Restricted Stock Units and Stock Options are subject to a vesting schedule, with full vesting expected by June 12, 2026, or prior to the next annual meeting of stockholders, contingent on the reporting person's continuous service.

Industry Context

This filing is a routine disclosure of insider equity transactions, specifically compensation grants, which are common across industries for directors and executives to align their incentives with company performance.

Stakeholder Impact

• Shareholders: The increased equity ownership by a director can be viewed positively as it enhances alignment between management and shareholder interests, potentially leading to more shareholder-friendly decisions.

Next Steps

• Continued vesting of the 3,041 Restricted Stock Units until full vesting on the earlier of June 12, 2026, or the day prior to the next annual meeting of stockholders.
• Continued vesting of the 15,372 Stock Options until full vesting on the earlier of June 12, 2026, or the day prior to the next annual meeting of stockholders.
• Potential exercise of the vested stock options by the reporting person prior to their expiration on June 12, 2035.

Key Dates

Keywords

Vaxcyte, PCVX, SEC Form 4, Insider Transaction, Restricted Stock Units, Stock Options, Director Compensation, Beneficial Ownership, Equity Grant