Celldex (CLDX) SVP awarded 95,000-share stock option grant at $34.09
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Celldex Therapeutics, Inc. reported that SVP of Corporate Affairs & Administration Sarah Cavanaugh received a grant of incentive stock options. She was awarded options covering 95,000 shares of Celldex common stock at an exercise price of $34.09 per share under the company’s 2021 Omnibus Equity Incentive Plan.
Following this grant, she holds derivative securities for 95,000 underlying shares. The options have a long-term vesting schedule: 25% vest on June 25, 2027, with the remaining 75% vesting in equal quarterly installments over the subsequent 12 quarters, and they expire on June 25, 2036.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Cavanaugh Sarah
Role
SVP OF CORP AFFAIRS & ADMIN.
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Incentive Stock Option (right to buy) | 95,000 | $0.00 | -- |
Holdings After Transaction:
Incentive Stock Option (right to buy) — 95,000 shares (Direct, null)
Footnotes (1)
- Represents option granted by the Issuer pursuant to its 2021 Omnibus Equity Incentive Plan. 25% vest on June 25, 2027 and the remainder vest quarterly (in equal amounts) over the subsequent 12 quarters.
Key Figures
Option grant size: 95,000 shares
Exercise price: $34.09 per share
Vesting cliff: 25% on June 25, 2027
+3 more
6 metrics
Option grant size
95,000 shares
Incentive Stock Option covering common stock
Exercise price
$34.09 per share
Strike price of Incentive Stock Option
Vesting cliff
25% on June 25, 2027
Initial vesting of option grant
Remaining vesting period
12 quarters
Equal quarterly vesting after June 25, 2027
Expiration date
June 25, 2036
Option term end date
Post-grant derivative holdings
95,000 derivative shares
Total underlying shares following transaction
Key Terms
Incentive Stock Option, 2021 Omnibus Equity Incentive Plan, vest, exercise price, +1 more
5 terms
Incentive Stock Option financial
"Represents option granted by the Issuer pursuant to its 2021 Omnibus Equity Incentive Plan."
An incentive stock option is a type of employee benefit that gives a worker the right to buy company shares at a fixed price, with special tax advantages if the employee holds the shares for a required period. Think of it as a coupon to buy future shares at today’s price that can result in lower tax on the gain. Investors care because ISOs can dilute share count, align staff incentives with the stock price, and affect company compensation costs and the timing of potential share sales.
2021 Omnibus Equity Incentive Plan financial
"Represents option granted by the Issuer pursuant to its 2021 Omnibus Equity Incentive Plan."
vest financial
"25% vest on June 25, 2027 and the remainder vest quarterly over 12 quarters."
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
exercise price financial
"conversion_or_exercise_price: 34.0900"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
expiration date financial
"expiration_date: 2036-06-25T00:00:00.000Z"
The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.
FAQ
What did Celldex (CLDX) executive Sarah Cavanaugh report in this Form 4?
Sarah Cavanaugh reported receiving an incentive stock option grant. The award covers 95,000 shares of Celldex common stock, giving her the right to buy shares at a fixed exercise price of $34.09 per share in the future.
What is the exercise price of Sarah Cavanaugh’s Celldex (CLDX) stock options?
The options have an exercise price of $34.09 per share. This is the fixed price at which she can buy Celldex common stock once the options vest, regardless of the market price at that time.
When do the Celldex (CLDX) stock options granted to Sarah Cavanaugh vest?
The vesting schedule begins with 25% vesting on June 25, 2027. The remaining 75% then vest in equal quarterly installments over the following 12 quarters, gradually increasing the portion of options she can exercise.
When do Sarah Cavanaugh’s Celldex (CLDX) stock options expire?
The incentive stock options expire on June 25, 2036. After that expiration date, any unexercised options become worthless and can no longer be used to purchase Celldex common stock at the $34.09 exercise price.
Is this Celldex (CLDX) Form 4 an open-market stock purchase or a compensation grant?
This Form 4 reports a grant/award acquisition of incentive stock options, not an open-market share purchase. The options were granted under Celldex’s 2021 Omnibus Equity Incentive Plan as part of equity-based compensation.