Ronald C. Renaud JR - Jun 12, 2023 Form 4 Insider Report for Cerevel Therapeutics Holdings, Inc. (CERE)

Role
President & CEO, Director
Signature
/s/ Mark Bodenrader, as Attorney-in-Fact
Stock symbol
CERE
Transactions as of
Jun 12, 2023
Transactions value $
$0
Form type
4
Date filed
6/14/2023, 04:53 PM
Previous filing
Jun 27, 2022
Next filing
Aug 7, 2023

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 CERE Stock Option (Right to Buy) Award $0 +216K $0.00 216K Jun 12, 2023 Common Stock 216K $32.72 Direct F1
transaction CERE Restricted Stock Units Award $0 +160K $0.00 160K Jun 12, 2023 Common Stock 160K Direct F2
transaction CERE Performance-based Restricted Stock Units Award $0 +160K $0.00 160K Jun 12, 2023 Common Stock 160K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 25% of this option shall vest and become exercisable on June 12, 2024, with the remainder vesting in thirty-six (36) monthly installments thereafter, subject to the Reporting Person's continued service on each such vesting date.
F2 The shares reported in this transaction represent Restricted Stock Units ("RSUs") granted under the Cerevel Therapeutics Holdings, Inc. 2020 Equity Incentive Plan (the "Plan"). Each RSU represents the contingent right to receive one share of the Issuer's common stock. The RSUs vest in four equal annual installments on each of June 12, 2024, June 12, 2025, June 12, 2026 and June 12, 2027, subject to the Reporting Person's continued service on each such vesting date.
F3 The shares reported in this transaction represent the target number of performance-based RSUs ("PSUs") granted under the Plan. The PSUs shall vest at the end of a four-year performance period following the Grant Date based on absolute total stockholder return ("TSR") performance measured at the end of the performance period (with a payout range of 0% to 250% of the target number of PSUs, or 50% to 275% of the target number of PSUs upon a Sale Event (as defined in an Employment Agreement between the Issuer and the Reporting Person)), subject to the Reporting Person's continued service at such time. Excludes an additional 160,371 target PSUs issued on the same Grant Date that are subject to vesting based on certain relative TSR performance metrics.