Legend Biotech (LEGN) director Gareth Kung reports 31,486 RSUs in Form 3
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Legend Biotech Corp director Gareth Kung filed an initial ownership report showing 31,486 restricted share units (RSUs). Each RSU represents a contingent right to receive one ordinary share. Twenty-five percent of the RSUs vest on February 2, 2027, with the remainder vesting in eight equal quarterly installments beginning March 20, 2027, subject to continued service. The company’s ordinary shares may also be represented by American Depositary Shares, with each ADS equal to two ordinary shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Kung Gareth
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Ordinary Shares | -- | -- | -- |
Holdings After Transaction:
Ordinary Shares — 31,486 shares (Direct)
Footnotes (1)
- The Ordinary Shares of the Issuer may be represented by American Depositary Shares ("ADSs"). Each ADS represents two ordinary shares of the Issuer. Includes 31,486 restricted share units (the "RSUs"). Each RSU represents a contingent right to receive one ordinary share of the Issuer upon settlement. 25% of the RSUs will vest on February 2, 2027 with the remainder vesting in 8 equal quarterly installments thereafter beginning on March 20, 2027, subject to the Reporting Person's continued service to the Issuer on each such vesting date.
FAQ
What does Legend Biotech (LEGN) director Gareth Kung report on this Form 3?
Gareth Kung reports initial ownership of 31,486 restricted share units (RSUs). Each RSU represents a contingent right to receive one ordinary share of Legend Biotech upon settlement, establishing his baseline equity-linked position as a director.
How do Gareth Kung’s RSUs at Legend Biotech (LEGN) vest over time?
25% of the 31,486 RSUs vest on February 2, 2027. The remaining RSUs vest in eight equal quarterly installments starting March 20, 2027, and require Gareth Kung’s continued service to Legend Biotech on each vesting date.
Are there any buy or sell transactions in this Legend Biotech (LEGN) Form 3?
No buy or sell transactions are reported in this Form 3. It serves as an initial statement of beneficial ownership, listing 31,486 RSUs as Gareth Kung’s reported equity-linked holdings rather than recording a new market trade.
What type of security does Gareth Kung hold in Legend Biotech (LEGN) according to this filing?
The filing reports 31,486 restricted share units (RSUs) in Legend Biotech. These RSUs are equity awards that convert into ordinary shares upon vesting and settlement, aligning the director’s compensation with the company’s long-term performance.