David Arkowitz - Oct 27, 2023 Form 4 Insider Report for Seres Therapeutics, Inc. (MCRB)

Role
Chief Financial Officer
Signature
/s/ Thomas J. DesRosier, attorney-in-fact for David Arkowitz
Stock symbol
MCRB
Transactions as of
Oct 27, 2023
Transactions value $
-$5,489
Form type
4
Date filed
10/31/2023, 09:39 PM
Previous filing
May 1, 2023
Next filing
Feb 16, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MCRB Common Stock Options Exercise $0 +13.2K +7.93% $0.00 180K Oct 27, 2023 Direct F1
transaction MCRB Common Stock Sale -$5.49K -4.07K -2.26% $1.35 176K Oct 30, 2023 Direct F2, F3

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 MCRB Restricted Stock Units Award $0 +26.4K $0.00 26.4K Apr 27, 2023 Common Stock 26.4K Direct F1, F4
transaction MCRB Restricted Stock Units Options Exercise $0 -13.2K -50% $0.00 13.2K Oct 27, 2023 Common Stock 13.2K Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 On February 3, 2023, the reporting person was granted an award of 26,418 restricted stock units ("RSUs"), which vest in the form of shares of the Issuer's common stock in two substantially equal installments upon the satisfaction of certain performance criteria. On April 27, 2023 (the "Initial Milestone Date"), the Issuer's Administrator determined that the performance criteria for the first installment were met, resulting in the vesting and settlement of the award as to 13,209 RSUs on October 27, 2023, the date that was six months from the Initial Milestone Date. The remaining 13,209 RSUs shall vest on October 27, 2024, the date that is eighteen months from the Initial Milestone Date.
F2 The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 instruction adopted by the reporting person on March 21, 2023, solely with the intent to cover taxes in connection with the vesting of the RSUs.
F3 The price reported in column 4 is a weighted average of the price. These shares were sold in multiple transactions at prices ranging from $1.35 to $1.365, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4 Each RSU represents a contingent right to receive one share of Issuer common stock. The RSUs do not have an expiration date.