Benitec Biopharma (BNTC) director option grant benefits Suvretta-managed funds
Rhea-AI Filing Summary
Benitec Biopharma Inc. director David Matthew Friedman was granted stock options linked to his board service. The award covers 35,000 options to buy Benitec common stock at an exercise price of $11.45 per share, expiring on May 26, 2036.
The options will vest in full on the earlier of immediately before Benitec’s next annual stockholder meeting or May 26, 2027. According to the disclosure, Friedman is a Managing Director of Suvretta Capital Management, which manages Averill Master Fund, Ltd. and Averill Madison Master Fund, Ltd. The options are held for the benefit of these funds, and Friedman disclaims beneficial ownership, while the funds and Suvretta Capital may be deemed to have an indirect pecuniary interest in the award.
Positive
- None.
Negative
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Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Friedman David Matthew
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Options (right to buy) | 35,000 | $0.00 | $0.00 |
Holdings After Transaction:
Options (right to buy) — 35,000 shares (Direct)
Footnotes (2)
- F1. Consists of options to purchase shares of the Issuer's common stock awarded to Mr. Friedman in connection with his role as a member of the Issuer's Board of Directors. Mr. Friedman, as a Managing Director of Suvretta Capital Management, LLC ("Suvretta Capital"), the investment manager of Averill Master Fund, Ltd. and Averill Madison Master Fund, Ltd (the "Funds"), is holding such options for the benefit of the Funds, and as such Mr. Friedman disclaims beneficial ownership of such options. The Funds, and Suvretta Capital, the investment manager of the Funds, may be deemed to have an indirect pecuniary interest in such options because Suvretta Capital has rights to receive the benefit of director compensation provided in respect of Mr. Friedman's board service.
- F2. The Options will vest in full on the earlier of immediately prior to the Issuer's next annual meeting of stockholders and May 26, 2027.
Key Figures
Options granted: 35,000 options
Exercise price: $11.45 per share
Expiration date: May 26, 2036
+3 more
6 metrics
Options granted
35,000 options
Award to David Matthew Friedman in connection with board service
Exercise price
$11.45 per share
Strike price for options to purchase Benitec common stock
Expiration date
May 26, 2036
Option term end date for the granted award
Shares underlying options
35,000 shares
Common stock underlying the option grant
Vesting trigger
Earlier of next annual meeting or May 26, 2027
Single vesting date condition for the options
Post-grant derivative holdings
35,000 options
Total options reported following this transaction
Key Terms
stock options, beneficial ownership, indirect pecuniary interest, vest in full, +1 more
5 terms
stock options financial
"Consists of options to purchase shares of the Issuer's common stock awarded to Mr. Friedman"
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
beneficial ownership financial
"Mr. Friedman disclaims beneficial ownership of such options"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
indirect pecuniary interest financial
"may be deemed to have an indirect pecuniary interest in such options"
vest in full financial
"The Options will vest in full on the earlier of immediately prior to the Issuer's next annual meeting"
annual meeting of stockholders financial
"on the earlier of immediately prior to the Issuer's next annual meeting of stockholders"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Benitec Biopharma (BNTC) disclose about David Friedman’s Form 4?
Benitec Biopharma reported a Form 4 showing director David Matthew Friedman received 35,000 stock options as board compensation. These options are linked to his service on the Board of Directors and are held for the benefit of investment funds managed by Suvretta Capital.
How many Benitec Biopharma (BNTC) options were granted in this Form 4?
The filing reports a grant of 35,000 options to purchase Benitec Biopharma common stock. These options carry an exercise price of $11.45 per share and represent compensation for David Friedman’s role as a member of the company’s Board of Directors.
What is the exercise price and expiration date of the BNTC options granted?
The options granted have an exercise price of $11.45 per share and expire on May 26, 2036. This long-dated expiration gives the holder a multi-year window to exercise, subject to vesting and other applicable terms described in the award.
When do David Friedman’s Benitec Biopharma options vest?
The options will vest in full on the earlier of immediately prior to Benitec Biopharma’s next annual meeting of stockholders or May 26, 2027. This single vesting date structure ties the award directly to his ongoing board service over that period.
Who is considered to benefit economically from these BNTC option grants?
The disclosure states the options are held for the benefit of Averill Master Fund, Ltd. and Averill Madison Master Fund, Ltd., managed by Suvretta Capital. David Friedman disclaims beneficial ownership, while the funds and Suvretta Capital may be deemed to have an indirect pecuniary interest.
Is this Benitec Biopharma Form 4 a stock purchase or a compensation grant?
This Form 4 reflects a compensation-related grant, not an open-market stock purchase. David Friedman received 35,000 options as a director award, with no cash price paid per option at grant and an exercise price of $11.45 per share for future exercises.