Form 4: Vaxcyte Director Halley Gilbert Reports Significant Equity Grant and Option Activity

Vaxcyte, Inc. Director Halley E. Gilbert reported the acquisition of 3,041 restricted stock units and 15,372 stock options, alongside a transfer of previously held options, as detailed in a recent SEC Form 4 filing.

Summary

• Halley E. Gilbert, a Director of Vaxcyte, Inc. (PCVX), filed a Form 4 reporting changes in beneficial ownership.
• On June 12, 2025, Ms. Gilbert acquired 3,041 shares of Common Stock in the form of Restricted Stock Units (RSUs) at a price of $0.
• These RSUs are scheduled to fully vest on the earlier of June 12, 2026, or the day prior to the next annual meeting of stockholders, contingent on continuous service.
• Ms. Gilbert also acquired 15,372 stock options on June 12, 2025, with an exercise price of $34.46 and an expiration date of June 12, 2035.
• These new 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, contingent on continuous service.
• Following these transactions, Ms. Gilbert beneficially owns 10,216 shares of Common Stock directly.
• Ms. Gilbert also holds 13,500 fully vested stock options with an exercise price of $5.35, expiring on April 17, 2030.
• On July 25, 2024, Ms. Gilbert transferred 16,874 vested stock options to her ex-spouse pursuant to a domestic relations order, and will no longer report beneficial ownership of these transferred options.

Sentiment

Score: 6

Explanation: Slightly positive, as a director's acquisition of equity, even as compensation, generally signals continued commitment and alignment with shareholder interests. No negative information was present.

Positives

• The acquisition of 3,041 Restricted Stock Units and 15,372 stock options by a director indicates continued alignment of management interests with shareholder value, as these are equity-based compensation.

Future Outlook

The newly acquired Restricted Stock Units and stock options are subject to vesting schedules, with full vesting expected on the earlier of June 12, 2026, or the day prior to the next annual meeting of stockholders, contingent on the director's continuous service.

Industry Context

This Form 4 filing reflects routine insider compensation activity within the biotechnology or pharmaceutical industry, where equity grants are a common component of executive and director remuneration to align interests with long-term company performance.

Stakeholder Impact

• Shareholders: The increase in the director's equity stake, through compensation, may be viewed positively as it aligns the director's financial interests with the company's long-term performance.

Next Steps

• Continued service of the reporting person to ensure vesting of the newly acquired Restricted Stock Units and stock options.
• The next annual meeting of stockholders will be a key date for the vesting of the newly acquired equity.

Key Dates

Keywords

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