ALT Form 4: CMO granted 450K options at $3.87 and 150K RSUs
Rhea-AI Filing Summary
Altimmune, Inc. insider Christophe Arbet-Engels, the company's Chief Medical Officer, reported awards on 10/01/2025 consisting of 450,000 stock options with a $3.87 exercise price and 150,000 restricted stock units (RSUs). The options vest over four years with 25% vesting on 10/01/2026 and the remainder monthly over the next 36 months, subject to continued service. The RSUs vest over four years with 25% on 10/01/2026 and the remainder in annual installments over three years and have no expiration date. The Form 4 was signed by an attorney-in-fact on 10/03/2025.
Positive
- 450,000 stock options awarded with a defined $3.87 exercise price
- 150,000 RSUs awarded that have no expiration date
- Vesting aligns with service: 25% vests on 10/01/2026 for both options and RSUs
Negative
- None.
Insights
Grant of long-term equity tied to service over four years.
The Form 4 discloses a standard executive equity package: 450,000 options at a $3.87 exercise price and 150,000 RSUs, both awarded on 10/01/2025. Vesting schedules align incentives with continued employment, with 25% vesting on 10/01/2026.
This matters for governance because the awards increase the reporting person’s potential future equity stake and align compensation with multi-year performance without providing immediate liquidity.
Potential share count increase of 600,000 underlying shares if fully vested and exercised.
The Form 4 shows 450,000 options and 150,000 RSUs, which together represent 600,000 shares underlying these instruments. Options have a defined exercise price ($3.87); RSUs convert to shares when vested and have no expiration.
For investors, the key disclosed metric is the exact number of shares that could be issued over time; the filing does not disclose current total outstanding shares, so the percentage dilution cannot be computed from this form alone.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Options (option to buy) | 450,000 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 150,000 | $0.00 | -- |
Footnotes (1)
- The shares underlying the option become vested and exercisable over four (4) years with 25% of the shares vesting on October 1, 2026, with the remainder vesting in equal monthly installments for the following thirty-six (36) months, subject to the reporting person's continued service on each applicable vesting date. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Common Stock, par value $0.0001, when vested The RSUs become vested over four (4) years with 25% of the shares vesting October 1, 2026, with the remainder vesting in equal annual installments for the following three (3) years, subject to the reporting person's continued service through the applicable vesting date, and have no expiration date.
