ADC Therapeutics director gets RSU grant, tax withholding

ADC Therapeutics SA director Ron Squarer reported routine equity compensation and related tax withholding.

Rhea-AI Filing Summary

ADC Therapeutics SA director Ron Squarer reported routine equity compensation and related tax withholding. On June 1, 2026, he received an annual grant of 45,000 restricted stock units for board service under the 2019 Equity Incentive Plan, with each RSU representing one common share upon vesting.

On June 3, 2026, 15,196 common shares were withheld by the company to cover his tax obligations when previously granted RSUs vested, at a reference price of $3.08 per share. After these transactions, he holds 123,431 common shares directly.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Squarer Ron

Role Director

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Shares	15,196	$3.08	$47K
Grant/Award	Common Shares	45,000	$0.00	$0.00

Holdings After Transaction: Common Shares — 123,431 shares (Direct)

Footnotes (2)

1. F1. Represents the annual grant of restricted stock units ("RSUs") made under the Issuer's 2019 Equity Incentive Plan for service as a Director. The RSUs vest on the earlier of (i) one year from the grant date or (ii) the date of the 2027 Annual Meeting of Shareholders, subject to the Reporting Person's continued service to the Issuer. Each RSU represents a contingent right to receive one share of the Issuer's common stock.
2. F2. Represents the number of Common Shares withheld by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting of restricted share units previously granted.

Key Figures

RSU grant size: 45,000 shares Tax-withheld shares: 15,196 shares Reference share price: $3.08 per share +3 more

6 metrics

RSU grant size 45,000 shares Annual director RSU grant on June 1, 2026

Tax-withheld shares 15,196 shares Shares withheld for tax obligations on June 3, 2026

Reference share price $3.08 per share Value used for tax-withholding disposition

Shares held after transactions 123,431 shares Common shares directly owned after June 2026 transactions

Grant code Code A Grant, award, or other acquisition of common shares

Tax disposition code Code F Payment of tax liability by delivering securities

Key Terms

restricted stock units ("RSUs"), 2019 Equity Incentive Plan, tax withholding obligations, Annual Meeting of Shareholders, +1 more

5 terms

restricted stock units ("RSUs") financial

"Represents the annual grant of restricted stock units ("RSUs") made under the Issuer's 2019 Equity Incentive Plan"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

2019 Equity Incentive Plan financial

"annual grant of restricted stock units ("RSUs") made under the Issuer's 2019 Equity Incentive Plan for service as a Director"

tax withholding obligations financial

"Common Shares withheld by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting of restricted share units"

Annual Meeting of Shareholders financial

"The RSUs vest on the earlier of (i) one year from the grant date or (ii) the date of the 2027 Annual Meeting of Shareholders"

A yearly gathering where a company’s owners (shareholders) vote on key items like electing the board, approving executive pay, and ratifying auditors, and receive updates on performance and strategy. Think of it as an annual town hall for owners: it matters to investors because outcomes and disclosures can affect leadership, corporate direction, dividend and governance policies, and therefore the company’s risk and potential return.

grant, award, or other acquisition financial

"transaction code description: Grant, award, or other acquisition"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Ron Squarer report for ADC Therapeutics (ADCT)?

Ron Squarer reported an annual equity grant and related tax withholding. He received 45,000 restricted stock units for board service, and 15,196 common shares were withheld by ADC Therapeutics to satisfy tax obligations tied to previously vested RSUs.

Was the Form 4 transaction for ADCT an open-market sale or purchase?

The Form 4 for ADC Therapeutics did not report any open-market buys or sells. It showed a grant of 45,000 RSUs as compensation and a tax-withholding disposition of 15,196 shares, where the company withheld shares to cover tax liabilities on vested RSUs.

How many ADC Therapeutics shares does Ron Squarer hold after these Form 4 transactions?

After the reported transactions, Ron Squarer holds 123,431 ADC Therapeutics common shares directly. This figure reflects both the 45,000 RSUs granted for board service and the 15,196 shares withheld by the issuer to satisfy his RSU-related tax obligations.

What are the terms of the RSU grant to Ron Squarer at ADC Therapeutics (ADCT)?

The grant represents annual restricted stock units for director service under the 2019 Equity Incentive Plan. These RSUs vest on the earlier of one year from the grant date or the 2027 Annual Meeting of Shareholders, assuming Ron Squarer continues serving the company’s board.

Why were 15,196 ADC Therapeutics shares disposed of in the Form 4 filing?

The 15,196 ADC Therapeutics shares were withheld by the company to cover Ron Squarer’s tax obligations when earlier RSU awards vested. This tax-withholding disposition is coded “F” and does not indicate an open-market sale or a discretionary trading decision.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/03/2026 - 05:03 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Squarer Ron

(Last) (First) (Middle)

430 MOUNTAIN AVENUE, SUITE 404

(Street)

NEW PROVIDENCE NEW JERSEY 07974

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ADC Therapeutics SA [ ADCT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	06/01/2026		A		45,000(1)	A	$0	138,627	D
Common Shares	06/03/2026		F(2)		15,196	D	$3.08	123,431	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents the annual grant of restricted stock units ("RSUs") made under the Issuer's 2019 Equity Incentive Plan for service as a Director. The RSUs vest on the earlier of (i) one year from the grant date or (ii) the date of the 2027 Annual Meeting of Shareholders, subject to the Reporting Person's continued service to the Issuer. Each RSU represents a contingent right to receive one share of the Issuer's common stock.

2. Represents the number of Common Shares withheld by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting of restricted share units previously granted.

Remarks:

	/s/ Lisa Kallebo, as Attorney-in-Fact for Ron Squarer	06/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)