Michael J. Sofia - Feb 1, 2024 Form 4 Insider Report for Arbutus Biopharma Corp (ABUS)

Role
Chief Scientific Officer
Signature
/s/ David C. Hastings as attorney-in-fact for Michael J. Sofia
Stock symbol
ABUS
Transactions as of
Feb 1, 2024
Transactions value $
-$23,083
Form type
4
Date filed
2/5/2024, 07:54 PM
Previous filing
Feb 3, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ABUS Common Shares Award $0 +110K +7.9% $0.00 1.5M Feb 1, 2024 Direct F1
transaction ABUS Common Shares Sale -$23.1K -9.98K -0.67% $2.31 1.49M Feb 2, 2024 Direct F2
holding ABUS Common Shares 167K Feb 1, 2024 By Trust 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 ABUS Stock Option (Right to Buy) Award $0 +438K $0.00 438K Feb 1, 2024 Common Shares 438K $2.40 Direct F4, F5
* 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 Represents the grant of restricted stock units ("RSUs"), which represent a contingent right to receive one common share for each RSU. The RSUs vest in three equal annual installments beginning one year from the grant date, subject to the Reporting Person's continuous service as of each vesting date. Unless otherwise provided, on each vesting date, common shares will automatically be sold to satisfy the Reporting Person's tax withholding obligations in a non-discretionary transaction.
F2 Represents the non-discretionary sale of common shares pursuant to the Reporting Person's 10b5-1 Plan, adopted on March 5, 2023, to satisfy the Reporting Person's tax obligations with respect to the vesting of a previous grant of restricted stock units.
F3 These shares are owned by the Irrevocable Deed of Trust of Michael J. Sofia dated July 6, 2020 (the "Trust"). The Reporting Person's wife and adult children are both the Trustees and the beneficiaries of the Trust. The Reporting Person disclaims beneficial ownership of the shares owned by the Trust and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
F4 Reflects the closing price of the Company's common shares on the Nasdaq Stock Market on the date of the grant.
F5 This option vests over a four-year period, with 1/48th of the shares subject to the option vesting in substantially equal monthly installments measured from one month following the grant date, subject to the Reporting Person's continuous service as of each vesting date.