David A. Santos - 26 Jan 2023 Form 4 Insider Report for RIGEL PHARMACEUTICALS INC (RIGL)

Role
EVP, Chief Commercial Officer
Signature
/s/ Raymond Furey (Attorney-in-Fact)
Issuer symbol
RIGL
Transactions as of
26 Jan 2023
Net transactions value
$0
Form type
4
Filing time
30 Jan 2023, 20:45:36 UTC
Previous filing
30 Dec 2022
Next filing
06 Feb 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RIGL Common Stock Award $0 +80,000 +114% $0.000000 150,000 26 Jan 2023 Direct F1, F2

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 RIGL Employee Stock Option (right to buy) Award $0 +50,000 +100% $0.000000 100,000 26 Jan 2023 Common Stock 50,000 $2.42 Direct F3, F4
transaction RIGL Employee Stock Option (right to buy) Award $0 +160,000 $0.000000 160,000 26 Jan 2023 Common Stock 160,000 $1.87 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares of common stock are to be acquired upon the vesting of a Restricted Stock Unit award granted to the Reporting Person. The Restricted Stock Units shall vest annually over four (4) years from February 1, 2023, with the first annual vest occurring on February 1, 2024.
F2 Includes 10,000 shares acquired under the issuer's stock purchase plan.
F3 The Reporting Person was granted an option with a performance-based condition with respect to 50,000 shares of common stock on January 24, 2022. Thus, the exercise price of this option is $2.42 (the closing price of the issuer's common stock on Nasdaq the date of grant). In light of the performance-based vesting condition of this grant, the grant was not reportable under Section 16 until the performance metric was satisfied. On January 26, 2023, it was determined that the performance metric had been met.
F4 The option was fully vested on January 26, 2023, the date the determination was made that the performance metric had been met.
F5 The shares of common stock subject to the option vest monthly over four (4) years from the vesting commencement date of January 1, 2023, subject to the Reporting Person's continuous service to the issuer through each such period.