Genelux (NASDAQ: GNLX) grants 233,957 RSUs to General Counsel Eric Groen
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Groen Eric reported acquisition or exercise transactions in this Form 4 filing.
GENELUX Corp granted General Counsel Eric Groen 233,957 restricted stock units (RSUs) of common stock as equity compensation. The RSUs were awarded at no cash cost to Groen and represent a contingent right to receive shares upon vesting.
The grant was made under the company’s 2022 Equity Incentive Plan. 25% of the RSUs will vest on the first anniversary of the grant date, with the remaining units vesting in 12 equal quarterly installments over the following three years, subject to the vesting conditions.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Groen Eric
Role
General Counsel
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 233,957 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 233,957 shares (Direct, null)
Footnotes (1)
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Key Figures
RSUs granted: 233,957 units
Grant price: $0.00 per RSU
Initial vesting portion: 25%
+2 more
5 metrics
RSUs granted
233,957 units
Restricted stock units awarded to General Counsel
Grant price
$0.00 per RSU
Equity compensation, no cash paid by recipient
Initial vesting portion
25%
Vests on first anniversary of grant date
Remaining vesting schedule
12 quarterly installments
Balance vests every 3 months after first anniversary
Shares following transaction
233,957 shares
Total reported holdings tied to this RSU grant
Key Terms
restricted stock units ("RSUs"), 2022 Equity Incentive Plan, contingent right, vest
4 terms
restricted stock units ("RSUs") financial
"Represents restricted stock units ("RSUs") granted pursuant to the Issuer's 2022 Equity Incentive Plan."
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
2022 Equity Incentive Plan financial
"RSUs granted pursuant to the Issuer's 2022 Equity Incentive Plan."
contingent right financial
"Each RSU represents the contingent right to receive one share of common stock upon vesting."
vest financial
"The RSUs will vest 25% on the first anniversary of the date of grant, and the remaining shares shall vest in 12 equal quarterly installments."
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.
FAQ
What insider transaction did GENELUX (GNLX) report for Eric Groen?
GENELUX reported that General Counsel Eric Groen received a grant of 233,957 restricted stock units. These RSUs are a form of equity compensation that convert into common shares over time as vesting conditions are met under the company’s 2022 Equity Incentive Plan.
How many GENELUX (GNLX) RSUs were granted to the General Counsel?
Eric Groen was granted 233,957 restricted stock units of GENELUX common stock. Each RSU represents the right to receive one share upon vesting, aligning his compensation with long-term shareholder value through the company’s equity incentive structure.
What is the vesting schedule for Eric Groen’s GENELUX (GNLX) RSUs?
The RSUs vest 25% on the first anniversary of the grant date, with the remaining shares vesting in 12 equal quarterly installments. This creates a multi-year vesting period designed to encourage retention and long-term alignment with GENELUX shareholders.
Were GENELUX (GNLX) RSUs granted to Eric Groen purchased on the market?
No, the 233,957 RSUs granted to Eric Groen were awarded as compensation at a stated price of $0.00 per unit. They are equity awards issued under GENELUX’s 2022 Equity Incentive Plan rather than open-market share purchases.
What does each GENELUX (GNLX) RSU granted to Eric Groen represent?
Each restricted stock unit represents a contingent right to receive one share of GENELUX common stock upon vesting. The units convert into actual shares over time, subject to the vesting schedule and any conditions outlined in the 2022 Equity Incentive Plan.