Jean I. Liu - Aug 15, 2023 Form 4 Insider Report for Seagen Inc. (SGEN)

Signature
By: /s/ Jessica Nielsen Causey For: Jean I Liu
Stock symbol
SGEN
Transactions as of
Aug 15, 2023
Transactions value $
-$583,158
Form type
4
Date filed
8/17/2023, 09:13 PM
Previous filing
Aug 9, 2023
Next filing
Aug 30, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SGEN Common Stock Award $0 +13.1K +17.33% $0.00 88.7K Aug 15, 2023 Direct F1, F2, F3
transaction SGEN Common Stock Disposed to Issuer -$139K -717 -0.81% $193.87 88K Aug 16, 2023 Direct F3, F4
transaction SGEN Common Stock Disposed to Issuer -$179K -922 -1.05% $193.87 87.1K Aug 16, 2023 Direct F3, F5
transaction SGEN Common Stock Disposed to Issuer -$265K -1.37K -1.57% $193.87 85.7K Aug 16, 2023 Direct F3, F6
* 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 These shares represent restricted stock units and will be settled in common stock upon vesting. 40% of the reporting person's annual equity award was granted in the form of performance stock units, which are not reflected here, and will be treated the same as these restricted stock units in the event the transaction with Pfizer closes.
F2 Shares shall vest at a rate of 25% on each anniversary of August 15, 2023 until all shares are fully vested at the end of four years.
F3 Amount of securities beneficially owned following reported transactions includes restricted stock units subject to vesting.
F4 The sales reported in this Form 4 were effected pursuant to a written plan adopted on 11/3/2020 that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
F5 The sales reported in this Form 4 were effected pursuant to a written plan adopted on 11/1/2021 that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
F6 The sales reported in this Form 4 were effected pursuant to a written plan adopted on 9/7/2022 that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).