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Benitec Biopharma (BNTC) director option grant benefits Suvretta-managed funds

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

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

  • None.
Insider Friedman David Matthew
Role null
Type Security Shares Price Value
Grant/Award Options (right to buy) 35,000 $0.00 --
Holdings After Transaction: Options (right to buy) — 35,000 shares (Direct, null)
Footnotes (1)
  1. 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. 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.
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
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"
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Friedman David Matthew
(Last)(First)(Middle)
540 MADISON AVENUE
7TH FLOOR
(Street)
NEW YORK NEW YORK 10022
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Benitec Biopharma Inc. [ BNTC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/26/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Options (right to buy)$11.4505/26/2026A35,000(1) (2)05/26/2036Common Stock35,000$035,000D
Explanation of Responses:
1. 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.
2. 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.
/s/ David Matthew Friedman05/28/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

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.