David R. Epstein - 09 Nov 2022 Form 4 Insider Report for Seagen Inc.

Role
Chief Executive Officer, Director
Signature
/s/ Jennifer Prosba, for David R. Epstein
Issuer symbol
N/A
Transactions as of
09 Nov 2022
Net transactions value
$0
Form type
4
Filing time
14 Nov 2022, 16:45:53 UTC
Previous filing
15 Jul 2022
Next filing
17 Aug 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SGEN Common Stock Award $0 +107,389 $0.000000 107,389 09 Nov 2022 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SGEN Incentive Stock Option (Right to Buy) Award $0 +2,896 $0.000000 2,896 09 Nov 2022 Common Stock 2,896 $137.96 Direct F3
transaction SGEN Non-Qualified Stock Option (Right to Buy) Award $0 +240,451 $0.000000 240,451 09 Nov 2022 Common Stock 240,451 $137.96 Direct F3
transaction SGEN Non-Qualified Stock Option (Right to Buy) Award $0 +400,000 $0.000000 400,000 09 Nov 2022 Common Stock 400,000 $137.96 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares represent restricted stock units and will be settled in common stock upon vesting.
F2 Shares shall vest at a rate of 25% on each anniversary of November 9, 2022, until all shares are fully vested at the end of four years.
F3 Options shall vest at a rate of 25% one year from grant date and monthly thereafter until all options are fully vested four years from grant date.
F4 Options are subject to performance vesting in tranches tied to price targets for shares of the Issuer's common stock generally achievable on specified timelines on or before December 31, 2028 or an earlier change of control of the Issuer. Each such tranche will time-vest 1/3 on the date of performance vesting, 1/3 on the 9 month anniversary of performance vesting and 1/3 on the 18 month anniversary of performance vesting.