Robert W. Duggan - Jan 2, 2025 Form 4 Insider Report for Summit Therapeutics Inc. (SMMT)

Signature
/s/ Robert W. Duggan
Stock symbol
SMMT
Transactions as of
Jan 2, 2025
Transactions value $
$98,446
Form type
4
Date filed
1/6/2025, 07:49 PM
Previous filing
Dec 18, 2024

Transactions Table

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 $98.4K +10.7K $9.18 10.7K Jan 2, 2025 Common Stock 10.7K $18.35 Direct F3, F4
holding SMMT Stock Option (right to buy) 203K Jan 2, 2025 Common Stock 203K $3.71 By Spouse F1, F2, F5
holding SMMT Stock Option (right to buy) 2.4M Jan 2, 2025 Common Stock 2.4M $4.40 By Spouse F1, F2, F6
holding SMMT Stock Option (right to buy) 15K Jan 2, 2025 Common Stock 15K $4.75 By Spouse F1, F2, F7
holding SMMT Stock Option (right to buy) 12M Jan 2, 2025 Common Stock 12M $1.68 By Spouse F1, F2, F8
holding SMMT Performance Stock Option (right to buy) 260K Jan 2, 2025 Common Stock 260K $1.06 By Spouse F1, F2, F9
holding SMMT Performance Stock Option (right to buy) 100K Jan 2, 2025 Common Stock 100K $1.29 By Spouse F1, F2, F10
holding SMMT Performance Stock Option (right to buy) 2.4M Jan 2, 2025 Common Stock 2.4M $1.68 By Spouse F1, F2, F11
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person acquired beneficial ownership of these securities upon his marriage to the beneficial owner of the securities on December 18, 2024.
F2 The Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.
F3 The option was granted on January 2, 2025. The shares underlying the option shall vest in four quarterly installments on March 31, June 30, September 30 and December 31 following election, subject to the reporting person remaining as a non-salaried director on each such vesting date.
F4 The option was issued to the reporting person pursuant to the Director Retainer Option Election Plan of issuer in lieu of retainer fees of $98,400.
F5 The option was granted to the Reporting Person's spouse on November 11, 2020 pursuant to the Issuer's Stock Incentive Plan, and are fully vested.
F6 The option was granted to the Reporting Person's spouse on November 22, 2020 pursuant to the Issuer's Stock Incentive Plan. The shares underlying the option are fully vested.
F7 The option was granted to the Reporting Person's spouse on December 15, 2021. The shares underlying the option are fully vested.
F8 The option was granted to the Reporting Person's spouse 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 11,988,198 options which were granted to the Reporting Person's spouse on October 13, 2023 and are subject to the satisfaction of performance conditions based on market capitalization and revenue targets.
F9 These performance-based stock options vested on August 23, 2024, upon the attainment of the satisfaction of certain financial performance objectives. Note this does not include an additional 1,040,000 shares underlying options which were granted to the Reporting Person's spouse on June 28, 2022, that remain subject to the satisfaction of performance conditions.
F10 These performance-based stock options vested on August 23, 2024, upon the attainment of the satisfaction of certain financial performance objectives. Note this does not include an additional 400,000 shares underlying options which were granted to the Reporting Person's spouse on September 9, 2022 that remain subject to the satisfaction of performance conditions.
F11 These performance-based stock options vested on August 23, 2024, upon the attainment of the satisfaction of certain financial performance objectives. Note this does not include an additional 9,590,558 shares underlying options which were granted to the Reporting Person's spouse on October 13, 2023 that remain subject to the satisfaction of performance conditions.