Mark Bodenrader - Jun 1, 2023 Form 4 Insider Report for Cerevel Therapeutics Holdings, Inc. (CERE)

Signature
/s/ Mark Bodenrader
Stock symbol
CERE
Transactions as of
Jun 1, 2023
Transactions value $
-$62,440
Form type
4
Date filed
6/5/2023, 08:07 PM
Previous filing
Feb 8, 2023
Next filing
Dec 21, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CERE Common Stock Options Exercise +4.73K +176.34% 7.42K Jun 1, 2023 Direct F1, F2
transaction CERE Common Stock Sale -$62.4K -1.9K -25.55% $32.95 5.52K Jun 2, 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 CERE Restricted Stock Units Options Exercise $0 -4.73K -25% $0.00 14.2K Jun 1, 2023 Common Stock 4.73K 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 Each restricted stock unit ("RSU") represents the contingent right to receive one share of the Issuer's common stock upon vesting and settlement.
F2 Includes 2,684 shares previously acquired under the Issuer's Employee Stock Purchase Plan.
F3 The Issuer has adopted a "sell-to-cover" policy to satisfy the tax withholding obligations of the Reporting Person. The sales reported on this Form 4 represent the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs. Such sales were automatic and intended to qualify under Rule 10b5-1.
F4 On June 1, 2022, the Reporting Person was granted 18,932 RSUs under the Cerevel Therapeutics Holdings, Inc. 2020 Equity Incentive Plan. 25% of the RSUs vest on each of the first, second, third and fourth anniversary of June 1, 2022, subject to the Reporting Person's continued service relationship with the Issuer through each such date.

Remarks:

Title: Senior Vice President, Finance and Chief Accounting Officer