Manmeet Soni - Oct 13, 2023 Form 4 Insider Report for Summit Therapeutics Inc. (SMMT)

Role
Chief Operating Officer, Director
Signature
/s/ Manmeet Soni
Stock symbol
SMMT
Transactions as of
Oct 13, 2023
Transactions value $
$4,999,999
Form type
4
Date filed
10/16/2023, 04:06 PM
Previous filing
Sep 26, 2023
Next filing
Apr 4, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SMMT Common Stock Purchase $5M +2.98M $1.68 2.98M Oct 13, 2023 Direct F1

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 SMMT Stock Option (right to buy) Award +14M 14M Oct 13, 2023 Common Stock 14M $1.68 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Issuer entered into a securities purchase agreement with the Reporting Person, pursuant to which the Issuer agreed to issue and sell to the Reporting Person shares of the Issuer's Common Stock at a per share purchase price equal to $1.68.
F2 The option was granted on October 13, 2023. The shares underlying the option shall vest in four equal annual installments, with the first such installment occurring on October 13, 2024. Note this does not include an additional 14,000,000 options which were granted on October 13, 2023 and are subject to the satisfaction of performance conditions based on market capitalization and revenue targets.
F3 Not applicable.