Form 4: Zevra Therapeutics Director Wendy Dixon Granted 30,000 Stock Options as Compensation

Zevra Therapeutics, Inc. director Wendy L. Dixon was granted 30,000 stock options with an exercise price of $8.62 as part of her compensation for board service, vesting over the next year or upon specific events.

Summary

• Wendy L. Dixon, a Director of ZEVRA THERAPEUTICS, INC. (ZVRA), was granted 30,000 stock options.
• The grant occurred on May 29, 2025, with an exercise price of $8.62 per share, which was the closing price of the Issuer's common stock on the Nasdaq Global Select Market on the grant date.
• These options were awarded as compensation for her service on the Issuer's board of directors, in accordance with the company's tenth amended and restated non-employee director compensation policy.
• The options are set to expire on May 28, 2035.
• The shares subject to the option will vest 100% on the earliest of: the first anniversary of the grant date, one day prior to the first annual stockholders meeting after the grant date, or immediately prior to a change in control of the Issuer, all contingent on her continued service.

Sentiment

Score: 7

Explanation: The filing reports a standard, expected compensation event for a director, indicating normal corporate governance and incentivization practices. It doesn't contain any negative surprises or significant positive catalysts beyond routine operations.

Positives

• The grant of stock options aligns with the company's established non-employee director compensation policy, indicating adherence to corporate governance practices.
• The options incentivize the director to contribute to the company's long-term performance, as the value of the options increases with the stock price.

Future Outlook

The stock options granted to Director Wendy L. Dixon are subject to a vesting schedule, with 100% vesting on the earlier of the first anniversary of the grant date, one day prior to the first annual stockholders meeting after the grant date, or immediately prior to a change in control of the Issuer, contingent on her continued service.

Management Comments

• The grant was awarded as compensation for the Reporting Person's service on the Issuer's board of directors pursuant to the Issuer's tenth amended and restated non-employee director compensation policy.

Industry Context

This Form 4 filing reports a routine equity compensation grant to a non-employee director, a common practice across publicly traded companies in the pharmaceutical and biotechnology sectors to align director interests with shareholder value and retain talent.

Comparison to Industry Standards

• The grant of stock options as compensation for non-employee directors is a standard practice in the biotechnology and pharmaceutical industries.
• While specific grant sizes and vesting schedules vary, a grant of 30,000 options with a 10-year expiration and performance/time-based vesting is generally within the typical range for directors at companies of Zevra Therapeutics' size and stage, comparable to compensation structures seen at similar small-to-mid cap biotech firms.

Corporate Governance

Stakeholder Impact

• Shareholders: The grant aligns director interests with shareholder value, as the options gain value if the stock price increases. It represents a standard cost of corporate governance.

Next Steps

• The options will vest based on the specified conditions (first anniversary of grant, day before first annual stockholders meeting, or change in control), subject to continued service.
• The director may choose to exercise these options at the stated exercise price of $8.62 per share at any time after vesting and before the expiration date of May 28, 2035.

Key Dates

Recommendation

Keywords

Zevra Therapeutics, ZVRA, Stock Option Grant, Director Compensation, SEC Form 4, Equity Compensation, Corporate Governance, Insider Transaction