Dan Paterson - Mar 11, 2024 Form 4 Insider Report for Verastem, Inc. (VSTM)

Role
President and CEO, Director
Signature
/s/ Daniel Calkins, Attorney in Fact
Stock symbol
VSTM
Transactions as of
Mar 11, 2024
Transactions value $
$0
Form type
4
Date filed
3/13/2024, 06:12 PM
Previous filing
Dec 20, 2023
Next filing
Mar 20, 2024

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 VSTM Stock Option (right to buy) Disposed to Issuer -12.1K -100% 0 Mar 11, 2024 Common Stock 12.1K $110.28 Direct F1, F2
transaction VSTM Stock Option (right to buy) Disposed to Issuer -11.2K -100% 0 Mar 11, 2024 Common Stock 11.2K $25.56 Direct F1, F3
transaction VSTM Stock Option (right to buy) Disposed to Issuer -5.5K -100% 0 Mar 11, 2024 Common Stock 5.5K $22.32 Direct F1, F4
transaction VSTM Stock Option (right to buy) Disposed to Issuer -8.33K -100% 0 Mar 11, 2024 Common Stock 8.33K $16.44 Direct F1, F5
transaction VSTM Stock Option (right to buy) Disposed to Issuer -6.25K -100% 0 Mar 11, 2024 Common Stock 6.25K $35.64 Direct F1, F6
transaction VSTM Stock Option (right to buy) Disposed to Issuer -3.75K -100% 0 Mar 11, 2024 Common Stock 3.75K $35.64 Direct F1, F7
transaction VSTM Stock Option (right to buy) Disposed to Issuer -6.25K -100% 0 Mar 11, 2024 Common Stock 6.25K $42.12 Direct F1, F8
transaction VSTM Stock Option (right to buy) Disposed to Issuer -20.8K -100% 0 Mar 11, 2024 Common Stock 20.8K $21.72 Direct F1, F9
transaction VSTM Stock Option (right to buy) Disposed to Issuer -16.7K -100% 0 Mar 11, 2024 Common Stock 16.7K $16.08 Direct F1, F10
transaction VSTM Stock Option (right to buy) Disposed to Issuer -12.5K -100% 0 Mar 11, 2024 Common Stock 12.5K $16.08 Direct F1, F11
transaction VSTM Stock Option (right to buy) Disposed to Issuer -34K -100% 0 Mar 11, 2024 Common Stock 34K $26.40 Direct F1, F12
transaction VSTM Stock Option (right to buy) Disposed to Issuer -30.7K -100% 0 Mar 11, 2024 Common Stock 30.7K $28.32 Direct F1, F13
transaction VSTM Stock Option (right to buy) Award +144K 144K Mar 11, 2024 Common Stock 144K $11.44 Direct F1
transaction VSTM Stock Option (right to buy) Award +23.8K 23.8K Mar 11, 2024 Common Stock 23.8K $11.44 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 11, 2024, pursuant to the Issuer's option exchange program, the Issuer canceled certain eligible unexercised options granted to the Reporting Person with an exercise price greater than $15. In exchange, the Reporting Person received (i) in the case of the canceled options that were fully vested as of March 8, 2024, a grant of 144,137 stock options that will vest in two equal installments over a two-year period from March 11, 2024 (the "Grant Date") and (ii) in the case of the canceled options there were unvested as of March 8, 2024, a grant of 23,843 stock options that will vest as to 25% on the first anniversary of the Grant Date and as to an additional 6.25% at the end of each successive three-month period following the first anniversary of the Grant Date until the fourth anniversary of the Grant Date, subject to the Reporting Person's continued service to the Issuer on the vesting date.
F2 The canceled option was granted on January 8, 2015 and provided for vesting as to 25% of the shares underlying the option on the first anniversary of the grant date and, thereafter, vesting as to 6.25% of the shares underlying the option at the end of each successive three-month period following the first anniversary of the grant date until the fourth anniversary of the grant date.
F3 The canceled option was granted on November 9, 2015 and provided for vesting as to 50% of the shares underlying the option on the first anniversary of the grant date, and vesting as to the remaining 50% of the shares underlying the option on the second anniversary of the grant date.
F4 The canceled option was granted on January 1, 2016 and provided for vesting as to 50% of the shares underlying the option on November 9, 2016, and vesting as to the remaining 50% of the shares underlying the option on November 9, 2017.
F5 The canceled option was granted on June 14, 2016 and provided for vesting as to 50% of the shares underlying the option upon satisfaction of a certain performance milestone met in June 2017, and vesting as to the remaining 50% of the shares underlying the option upon satisfaction of a certain performance milestone met in September 2017.
F6 The canceled option was granted on January 5, 2018 and provided for vesting as to 25% of the shares underlying the option on January 1, 2019 and, thereafter, vesting as to 6.25% of the shares underlying the option at the end of each successive three-month period after such date until January 1, 2022.
F7 The canceled option was granted on January 5, 2018 and provided for vesting based on the achievement of certain performance milestones which were met by June 30, 2018 and by March 31, 2019.
F8 The canceled option was granted on January 3, 2019 and provided for vesting as to 25% of the shares underlying the option on January 1, 2020 and, thereafter, vesting as to 6.25% of the shares underlying the option at the end of each successive three-month period after such date until January 1, 2023.
F9 The canceled option was granted on June 21, 2019 and provided for vesting as to 50% of the shares underlying the option on the first anniversary of the grant date and, thereafter, vesting as to 12.5% of the shares underlying the option on each successive three month period after such date until the second anniversary of the grant date.
F10 The canceled option was granted on December 13, 2019 and provided for vesting as to 50% of the shares underlying the option on the first anniversary of the grant date and vesting as to 12.5% of the shares underlying the option at the end of each successive three-month period following the first anniversary of grant date until the second anniversary of the grant date.
F11 The canceled option was granted on December 13, 2019 and provided for vesting as to 25% of the shares underlying the option on the first anniversary of the grant date and, thereafter, vesting as to 6.25% of the shares underlying the option at the end of each successive three-month period after such date until the fourth anniversary of the grant date.
F12 The canceled option was granted on December 18, 2020 and provided for vesting as to 25% of the shares underlying the option on the first anniversary of the grant date and, thereafter, vesting as to 6.25% of the shares underlying the option at the end of each successive three-month period following the first anniversary of the grant date until the fourth anniversary of the grant date.
F13 The canceled option was granted on December 15, 2021 and provided for vesting as to 25% of the shares underlying the option on the first anniversary of the grant date and, thereafter, vesting as to 6.25% of the shares underlying the option at the end of each successive three-month period following the first anniversary of the grant date until the fourth anniversary of the grant date.