Form 4: VolitionRX COO Gaetan Michel Receives Stock Award in Lieu of Cash Compensation

Gaetan Michel, Chief Operating Officer of VolitionRX Ltd, received 15,671 restricted stock units (RSUs) on September 1, 2024, in lieu of cash compensation.

Summary

• On September 1, 2024, Gaetan Michel, the Chief Operating Officer of VolitionRX Ltd, was granted 15,671 restricted stock units (RSUs).
• The RSUs were awarded under the Issuer's 2015 Stock Incentive Plan as a substitute for cash compensation.
• The RSUs vest in three installments: 5,224 units on September 1, 2024, 5,224 units on October 1, 2024, and 5,223 units on November 1, 2024.
• The RSUs are also subject to further time-based vesting in a single installment on June 1, 2025, and are generally subject to continued service throughout each applicable vesting date.
• Upon vesting and settlement, Michel will receive shares of common stock equal to the number of vested RSUs.
• Following the transaction, Michel beneficially owns 395,120 shares of common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The RSU grant is a standard practice and aligns management with shareholder interests. It also helps the company conserve cash.

Positives

• The award of RSUs to the COO aligns his interests with those of the shareholders.
• Using RSUs in lieu of cash compensation can help the company conserve cash.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedule of the RSUs.

Industry Context

Stock awards are a common form of executive compensation in the biotechnology industry, often used to align management incentives with shareholder value and conserve cash.

Comparison to Industry Standards

• Many biotech companies use RSUs as part of their compensation packages for executives.
• The vesting schedule of the RSUs is fairly standard, with installments over a period of months and a final vesting date further out.

Stakeholder Impact

• Shareholders may view the RSU grant positively as it aligns management's interests with theirs.
• Employees may see the RSU grant as a positive sign of the company's commitment to its executives.

Key Dates