Form 4: Xeris Biopharma CFO Steven Pieper Reports Stock Transactions

Xeris Biopharma's Chief Financial Officer, Steven Pieper, engaged in stock transactions including the vesting of restricted stock units, tax withholdings, and the grant of stock appreciation rights.

Summary

• Steven Pieper, the Chief Financial Officer of Xeris Biopharma Holdings, Inc., reported several transactions involving the company's stock on January 31, 2025.
• These transactions included the withholding of 110,750 shares and 66,450 shares of common stock to cover income tax obligations related to the vesting of restricted stock units at a price of $3.56 per share.
• Pieper also acquired 185,000 shares of common stock through a restricted stock unit grant, which will vest in equal annual installments over three years.
• Additionally, Pieper was granted 300,000 stock appreciation rights, which will vest on the second anniversary of the grant date, and will be settled in cash upon exercise.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices, which are generally viewed positively as they align management with shareholder interests. There are no indications of negative events or concerns.

Positives

• The grant of 185,000 restricted stock units to the CFO indicates continued alignment of management's interests with shareholders.
• The grant of 300,000 stock appreciation rights provides an incentive for the CFO to drive company performance.

Negatives

• The withholding of shares to cover tax obligations reduces the CFO's immediate share ownership.

Risks

• The vesting of restricted stock units and stock appreciation rights is contingent on continued service with the company.
• The value of the stock appreciation rights is dependent on the future performance of the company's stock price.

Future Outlook

The restricted stock units will vest in equal annual installments over three years, and the stock appreciation rights will vest in full on the second anniversary of the grant date, subject to continued service.

Management Comments

• The transactions were reported by Beth Hecht, Attorney-in-Fact, on behalf of Steven Pieper.

Industry Context

This type of stock transaction is common for executives in publicly traded companies as part of their compensation packages and to align their interests with shareholders.

Comparison to Industry Standards

• Stock-based compensation, including restricted stock units and stock appreciation rights, is a standard practice for executive compensation in the biotechnology industry.
• Companies like Amgen, Regeneron, and Gilead Sciences also use similar equity-based compensation plans to incentivize their executives.
• The vesting schedules and terms of these grants are generally consistent with industry norms.

Stakeholder Impact

• Shareholders may view the equity grants as a positive sign of management's commitment to the company's long-term success.
• Employees may see the equity grants as a positive sign of the company's commitment to its leadership.

Next Steps

• The restricted stock units will continue to vest annually over the next three years.
• The stock appreciation rights will vest on the second anniversary of the grant date, subject to continued service.

Key Dates

Keywords

Xeris Biopharma, Stock Transactions, Restricted Stock Units, Stock Appreciation Rights, CFO, Steven Pieper, Insider Trading, Equity Compensation