Form 4: Vivani Medical CFO Brigid Makes Reports Stock Option and RSU Grant

Brigid Makes, CFO of Vivani Medical, reports the acquisition of stock options and restricted stock units (RSUs) in the company.

Summary

• Brigid Makes, the Chief Financial Officer of Vivani Medical, Inc., filed a Form 4 on May 14, 2025.
• The filing reports the grant of stock options and restricted stock units (RSUs) on May 12, 2025.
• The stock options are for 75,000 shares with an exercise price of $1.03, vesting over 3 years.
• The RSUs are for 37,500 shares and vest in three stages based on the stock price reaching $3.15 for three consecutive days and continued service.
• If the stock price does not reach $3.15 within four years, the RSUs will expire.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, which is generally viewed neutrally to positively as it aligns management interests with shareholders. The performance-based RSUs add a slightly positive element.

Positives

• The grant of stock options and RSUs aligns the CFO's interests with those of the shareholders.
• The performance-based vesting of the RSUs incentivizes the CFO to drive the stock price higher.

Risks

• The RSUs will expire if the stock price does not reach $3.15 within four years, potentially leading to a loss of incentive for the CFO.
• The vesting of the stock options and RSUs is contingent on continued service, creating a risk of forfeiture if the CFO leaves the company.

Future Outlook

The vesting of the RSUs is contingent on the stock price reaching $3.15 within four years, which could incentivize efforts to increase shareholder value.

Industry Context

Grants of stock options and RSUs are common practices in the pharmaceutical and biotech industries to incentivize executives and align their interests with those of shareholders.

Comparison to Industry Standards

• Stock option and RSU grants are standard compensation practices in the biotech industry.
• Companies like Amgen, Gilead Sciences, and Biogen routinely use equity-based compensation to incentivize their executives.
• The vesting schedules and performance-based conditions are also typical, designed to align management's interests with long-term shareholder value creation.

Stakeholder Impact

• Shareholders may view the equity grants positively as they align management's interests with increasing shareholder value.
• Employees may see the grants as a sign of confidence in the company's future.

Key Dates

Keywords

Form 4, Vivani Medical, VANI, Brigid Makes, CFO, Stock Options, RSUs, Restricted Stock Units, Beneficial Ownership, Securities