ARTL CFO discloses $11.03 stock options in ownership filing
Rhea-AI Filing Summary
Artelo Biosciences, Inc. (ARTL) reported the equity holdings of its Chief Financial Officer in a beneficial ownership statement. The filing lists two stock options to buy common stock, each with an exercise price of $11.03 per share. One option covers 5,000 shares of common stock and vests in equal monthly installments over four years starting from a vesting commencement date of January 1, 2025. The other option covers 2,500 shares of common stock, with half vesting on January 1, 2026 and the remaining half vesting on January 1, 2027, in each case contingent on continued service.
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FAQ
What type of SEC filing did ARTL submit for this insider ownership report?
This is a Section 16 beneficial ownership filing reporting the equity holdings of an officer of Artelo Biosciences, Inc. (ARTL), including stock options.
Who is the insider involved in this ARTL ownership filing and what is their role?
The reporting person is an officer of Artelo Biosciences, Inc. serving as Chief Financial Officer, and the filing reflects their beneficial ownership in company equity.
What stock options were reported by the ARTL Chief Financial Officer?
The Chief Financial Officer reported two stock options to buy common stock: one for 5,000 shares and another for 2,500 shares, each with an exercise price of $11.03 per share.
How does the 5,000-share ARTL stock option vest?
The 5,000-share option vests in 1/48th monthly installments starting from a vesting commencement date of January 1, 2025, becoming fully vested on the four-year anniversary, subject to continued service.
What is the vesting schedule for the 2,500-share ARTL stock option?
For the 2,500-share option, 50% of the shares vest on January 1, 2026 and the remaining 50% vest on January 1, 2027, conditioned on the officer continuing as a service provider.
What condition applies to vesting of the ARTL CFO stock options?
Both options vest only if the Chief Financial Officer continues to be a Service Provider as defined in Artelo Biosciences' 2018 Equity Incentive Plan through each applicable vesting date.