Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|
transaction | SWTX | Common Stock | Award | $0 | +199K | $0.00 | 199K | Nov 30, 2023 | Direct | F1, F2 |
Id | Content |
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F1 | This transaction represents the grant of performance restricted stock units ("PSUs"). Each PSU represents a contingent right to receive one share of the Issuer's Common Stock upon vesting. The PSUs were originally granted on January 5, 2023, subject to the achievement of a certain performance based milestone within four years from the grant date, which milestone was achieved as a result of approval by the U.S. Food and Drug Administration of the Issuer's lead product candidate, Ogsiveo, for the treatment of desmoid tumors. |
F2 | 66,351 PSUs shall vest on the date that is 15 months following November 30, 2023, another 66,351 PSUs shall vest on the date that is 27 months following November 30, 2023 and the remaining 66,351 PSUs shall vest on the date that is the later of (i) 39 months following November 30, 2023 or (ii) the Measurement Period End Date (as defined below), subject to continued service to the Issuer by the Reporting Person as of each such vesting date; provided that, such remaining 66,351 PSUs shall be subject to an upwards or downwards adjustment described in the PSU award agreement. As used herein, "Measurement Period End Date" means the first to occur of (i) December 31, 2026 or (ii) the date of consummation of a Sale Event (as defined in Issuer's 2019 Stock Option and Equity Incentive Plan). |