Form 4: VolitionRx CEO Salvatore Butera Receives Restricted Stock Units in Lieu of Cash Compensation
SEC Form 4 Filing
Salvatore Thomas Butera, CEO of Volition Veterinary (a subsidiary of VolitionRx Ltd), received 31,256 restricted stock units (RSUs) in lieu of cash compensation and disposed of 99,350 shares of common stock.
Summary
- On June 1, 2024, Salvatore Thomas Butera, CEO of Volition Veterinary, received 31,256 restricted stock units (RSUs) under VolitionRx Ltd's 2015 Stock Incentive Plan in lieu of cash compensation.
- The RSUs vest in three installments of 10,419 units, 10,419 units, and 10,418 units on June 1, 2024, July 1, 2024, and August 1, 2024, respectively.
- The RSUs are also subject to further time-based vesting in a single installment on May 1, 2025, and are generally subject to continued service throughout each applicable vesting date.
- Upon vesting and settlement, Butera will receive shares of common stock equal to the number of RSUs that have vested.
- Butera also disposed of 99,350 shares of common stock.
- Butera directly owns 230,750 shares of common stock following the reported transactions.
- Some shares of common stock are jointly owned by Butera and his spouse.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing insider transactions, with neutral sentiment.
Positives
- The grant of RSUs to the CEO in lieu of cash compensation may preserve cash for the company.
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.
Stakeholder Impact
- Shareholders may be interested in the insider transactions of company executives.
Key Dates
| Date | Description |
|---|---|
| 06/01/2024 | Date of earliest transaction: Grant of 31,256 RSUs and disposal of 99,350 shares of common stock. |
| 06/01/2024 | First vesting installment of 10,419 RSUs. |
| 07/01/2024 | Second vesting installment of 10,419 RSUs. |
| 08/01/2024 | Third vesting installment of 10,418 RSUs. |
| 05/01/2025 | Final vesting installment of RSUs. |
| 06/04/2024 | Date of Form 4 signature. |
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