Form 4: VolitionRx Chief Commercial Officer Receives Stock Award in Lieu of Cash Compensation

Gael Forterre, Chief Commercial Officer of VolitionRx, received 4,828 restricted stock units in lieu of cash compensation.

Summary

• Gael Forterre, the Chief Commercial Officer of VolitionRx, was awarded 4,828 restricted stock units (RSUs) on December 1, 2024.
• These RSUs were granted in place of cash compensation that would have otherwise been paid to Mr. Forterre.
• The RSUs vest in multiple installments: 1,610 units on December 1, 2024, 1,609 units on January 1, 2025, and 1,609 units on February 1, 2025.
• An additional vesting installment will occur on July 1, 2025, subject to continued service.
• Upon vesting, Mr. Forterre will receive common stock equal to the number of vested RSUs.
• Mr. Forterre also has indirect ownership of 5,000 shares through his spouse and 32,500 shares through Armorica Partners, LLC.
• He disclaims beneficial ownership of the shares held by Armorica Partners except to the extent of his pecuniary interest.

Sentiment

Score: 7

Explanation: The document reflects a standard compensation practice, which is generally positive for aligning executive interests with company performance. There are no indications of negative issues.

Positives

• The award of RSUs aligns Mr. Forterre's interests with the company's performance.
• The vesting schedule encourages continued service and commitment from the Chief Commercial Officer.

Industry Context

This is a standard practice for compensating executives, aligning their interests with the company's performance and shareholder value.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies, particularly for executive-level employees.
• The vesting schedule of the RSUs is typical, designed to incentivize long-term commitment.
• Many companies use a combination of cash and equity compensation to attract and retain talent.
• The use of RSUs is similar to other biotech companies such as Exact Sciences (EXAS) and Guardant Health (GH) who also use stock based compensation to align executive interests with company performance.

Stakeholder Impact

• The stock award may have a minor dilutive effect on existing shareholders.
• The vesting schedule encourages the Chief Commercial Officer to remain with the company, which is beneficial for stakeholders.

Key Dates

Keywords

restricted stock units, RSUs, stock compensation, insider trading, beneficial ownership, VolitionRx, VNRX, Gael Forterre, Chief Commercial Officer