GENELUX (GNLX) CFO receives 278,906 restricted stock units as equity grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Pulisic Matthew reported acquisition or exercise transactions in this Form 4 filing.
GENELUX Corp Chief Financial Officer Matthew Pulisic reported an equity compensation grant of 278,906 shares of Common Stock in the form of restricted stock units (RSUs). The RSUs were granted under the company’s 2022 Equity Incentive Plan at no cash purchase price.
Each RSU represents the right to receive one share of common stock upon vesting. According to the award terms, 25% of the RSUs will vest on the first anniversary of the grant date, with the remaining RSUs vesting in 12 equal quarterly installments thereafter. Following this grant, Pulisic’s directly held common stock reported in this filing totals 278,906 shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Pulisic Matthew
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 278,906 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 278,906 shares (Direct, null)
Footnotes (1)
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Key Figures
RSU grant size: 278,906 units
Grant price: $0.0000 per share
Post-grant holdings: 278,906 shares
+2 more
5 metrics
RSU grant size
278,906 units
Restricted stock units granted to CFO on reported date
Grant price
$0.0000 per share
Reported transaction price for RSU award
Post-grant holdings
278,906 shares
Total common stock reported following transaction
Initial vesting tranche
25% of RSUs
Vests on first anniversary of grant date
Subsequent vesting schedule
12 equal quarterly installments
Remaining RSUs vest every 3 months after first anniversary
Key Terms
restricted stock units, 2022 Equity Incentive Plan, vesting, quarterly installments
4 terms
restricted stock units financial
"Represents restricted stock units ("RSUs") granted pursuant to the Issuer's 2022 Equity Incentive Plan."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
2022 Equity Incentive Plan financial
"RSUs granted pursuant to the Issuer's 2022 Equity Incentive Plan."
vesting financial
"Each RSU represents the contingent right to receive one share of common stock upon vesting."
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
quarterly installments financial
"The remaining shares shall vest in 12 equal quarterly (every 3 months) installments thereafter"
FAQ
What insider transaction did GENELUX Corp (GNLX) report for CFO Matthew Pulisic?
GENELUX Corp reported that CFO Matthew Pulisic received 278,906 restricted stock units as an equity award. Each RSU represents one share of common stock upon vesting, reflecting non-cash compensation under the company’s 2022 Equity Incentive Plan.
What is the vesting schedule for Matthew Pulisic’s GENELUX (GNLX) RSUs?
The RSUs vest 25% on the first anniversary of the grant date, then the remaining units vest in 12 equal quarterly installments. This creates a multi-year vesting period designed to align the CFO’s compensation with ongoing company performance and retention.
What does it mean that GENELUX (GNLX) granted RSUs at a zero dollar price?
The reported transaction price of $0.0000 per RSU means Pulisic did not pay cash to receive the award. RSUs are compensation, not open-market purchases, and convert into common shares only upon vesting if the service and other conditions are satisfied.