Form 4: VolitionRX CFO Terig Hughes Receives Stock Award in Lieu of Cash Compensation

Terig Hughes, CFO of VolitionRX Ltd, received 11,686 restricted stock units (RSUs) on June 1, 2024, in lieu of cash compensation.

Summary

• On June 1, 2024, VolitionRX Ltd's CFO, Terig Hughes, was granted 11,686 restricted stock units (RSUs).
• The RSUs were awarded under the Issuer's 2015 Stock Incentive Plan.
• The RSUs were granted in lieu of cash compensation that would otherwise have been owed to the reporting person.
• The RSUs vest in three installments of 3,896 units, 3,895 units, and 3,895 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.
• Vesting is contingent upon continued service throughout each applicable vesting date.
• Upon vesting and settlement, Hughes will receive shares of common stock equal to the number of RSUs that have vested.

Sentiment

Score: 6

Explanation: Neutral sentiment as it reflects a standard compensation practice. The impact on the company is likely minimal.

Positives

• Granting RSUs in lieu of cash may preserve the company's cash reserves.

Risks

• The value of the RSUs is tied to the performance of VolitionRX stock, creating a risk if the stock price declines.

Future Outlook

The reporting person will receive shares of common stock equal to the number of RSUs that have vested, subject to continued service.

Industry Context

Stock awards are a common form of executive compensation in the biotechnology industry, aligning management's interests with those of shareholders.

Stakeholder Impact

• Shareholders may view the RSU grant as a way to conserve cash.
• Employees may see this as a standard part of executive compensation.

Key Dates