BeOne Medicines (ONC) awards 167,635 performance-based shares to R&D head
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
BeOne Medicines Ltd. reported that President and Global Head of R&D Wang Lai received equity compensation in the form of performance share units on ordinary shares. The grants cover 112,606 shares vesting in 2027 and 55,029 shares vesting in 2028, subject to continued service and possible accelerated vesting upon certain termination events. After these awards, Wang directly holds 1,619,059 ordinary shares.
He also has indirect exposure to 601,965 ordinary shares held by Wang Holdings LLC, for which he disclaims beneficial ownership, and an indirect economic interest in RMB Shares acquired through an employee participation plan, over which he has no voting or dispositive power.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Wang Lai
Role
President, Global Head of R&D
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Ordinary Shares | 112,606 | $0.00 | -- |
| Grant/Award | Ordinary Shares | 55,029 | $0.00 | -- |
| holding | Ordinary Shares | -- | -- | -- |
| holding | RMB Shares | -- | -- | -- |
Holdings After Transaction:
Ordinary Shares — 1,564,030 shares (Direct);
Ordinary Shares — 601,965 shares (Indirect, See Footnote);
RMB Shares — 0 shares (Indirect, See Footnote)
Footnotes (1)
- Represents the total number of ordinary shares underlying the performance share units earned by Reporting Person. The earned performance share units will vest in 2027, subject to the Reporting Person continuing to provide service to the Company through such vesting date. Unvested securities are subject to accelerated vesting upon certain termination events. Represents the total number of ordinary shares underlying the performance share units earned by Reporting Person. The earned performance share units will vest in 2028, subject to the Reporting Person continuing to provide service to the Company through such vesting date. Unvested securities are subject to accelerated vesting upon certain termination events. These securities are held by Wang Holdings LLC, the limited liability company interests of which are owned by the Reporting Person, his spouse and a trust created by the Reporting Person for the benefit of his spouse and children, for which the Reporting Person disclaims beneficial ownership. The term "RMB Shares" is used herein to represent the ordinary shares, par value $0.0001 per share, of the Issuer, issued directly by the Issuer in the Issuer's initial public offering on the Science and Technology Innovation Board (the "STAR Market") of the Shanghai Stock Exchange (the "STAR Offering"), to permitted investors in Renminbi ("RMB") within the People's Republic of China ("PRC") in accordance with the rules of the STAR Market. The Issuer established an employee participation program ("RMB Shares Employee Participation Plan"), which allows certain executive officers and qualified employees of the Issuer's subsidiaries in the PRC to indirectly participate in the STAR Offering and purchase certain RMB Shares from the Issuer through an asset management plan administrated by China International Capital Corporation Limited in a transaction that is exempt under Rule 16b-3. The RMB Share Employee Participation Plan purchased an aggregate of 2,069,546 RMB Shares directly from the Issuer in the STAR Offering at the initial public offering price of RMB192.6 per RMB Share (or $30.1295 based on an assumed exchange rate of $1.00 = RMB6.3924). The Reporting Person, as an individual participant in the RMB Shares Employee Participation Plan, has contributed RMB10 million to the RMB Shares Employee Participation Plan. The Reporting Person may be deemed to have indirect economic interest in an indeterminable portion of the RMB Shares held by the RMB Shares Employee Participation Plan but does not have voting or dispositive power over any of such shares. The Reporting Person disclaims Section 16 beneficial ownership of the RMB Shares held by the RMB Shares Employee Participation Plan, except to the extent, if any, of his pecuniary interest therein. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such RMB Shares for Section 16 or any other purpose.
FAQ
What insider transactions did BeOne Medicines (ONC) report for Wang Lai?
BeOne Medicines reported that President and Global Head of R&D Wang Lai received two equity grants totaling 167,635 ordinary shares. These awards are structured as performance share units that vest in 2027 and 2028, increasing his direct share ownership to 1,619,059 ordinary shares.
What is Wang Lai’s total direct ownership in BeOne Medicines (ONC) after the Form 4?
After the reported grants, Wang Lai directly holds 1,619,059 ordinary shares of BeOne Medicines. This figure reflects his updated direct ownership position and incorporates the newly awarded performance share units reported as underlying ordinary shares in the filing.
What indirect BeOne Medicines (ONC) holdings are associated with Wang Lai?
An additional 601,965 ordinary shares are held by Wang Holdings LLC, whose interests are owned by Wang Lai, his spouse and a family trust. He disclaims beneficial ownership of these shares despite the family association, as specifically noted in the filing’s footnotes.