Lumexa Imaging Holdings, Inc. (LMRI) officer discloses equity grants
Rhea-AI Filing Summary
Lumexa Imaging Holdings, Inc. executive Julie Szeker, the company’s Chief Legal Officer and Corporate Secretary, reported initial beneficial ownership of several equity awards linked to Lumexa common stock. She holds common units in Lumexa Imaging Equity Holdco, LLC that correspond to 12,617 shares of common stock that may be distributed after a 180‑day IPO lock‑up, plus incentive units corresponding to 66,182 shares, including 11,876 shares subject to performance-based vesting.
She also holds three stock option grants to purchase 41,665, 22,222 and 63,887 shares of common stock at an exercise price of $18.5 per share, each expiring in 2035. One option is fully vested, another vests in five annual installments starting February 8, 2023, and about 64.1% of the performance-based grant has vested, with the remainder vesting only if the stock achieves a volume‑weighted average price of $24.97 over 60 consecutive trading days after the IPO lock‑up period, while she continues in service.
Positive
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common Units of Holdings LLC | -- | -- | -- |
| holding | Incentive Units of Holdings LLC | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
Footnotes (1)
- Represents common units ("Common Units") of Lumexa Imaging Equity Holdco, LLC ("Holdings LLC") held by the Reporting Person. Each nine Common Units represent the right to acquire one share of the Issuer's common stock ("Common Stock") held by Holdings LLC. After the closing of the Issuer's initial public offering ("IPO"), Holdings LLC may distribute all or a portion of the shares of the Common Stock it holds to its remaining equity holders on a pro rata basis, not earlier than the expiration of a 180-day lock-up period (a "Distribution"). Accordingly, the shares of Common Stock reported on this row represent shares of Common Stock that the Reporting Person is entitled to receive in connection with a Distribution in exchange for their Common Units. Represents incentive units ("Incentive Units") of Holdings LLC held by the Reporting Person. At the closing of the Issuer's IPO, these Incentive Units will be converted into shares of Common Stock based on the intrinsic value of the awards at the time of the Issuer's IPO, as determined by the board of managers of Holdings LLC, with any shares of Common Stock issued in replacement of unvested Incentive Units to be delivered as restricted stock awards, which remain subject to time-based and performance-based vesting conditions, as applicable. [continues in footnote 3] [continued from footnote 2] The time-based vesting schedule applicable to the replacement restricted stock awards will replicate the original time-based vesting schedule applicable to the time-based Incentive Units prior to the closing of the Issuer's IPO, while the performance-based vesting conditions will be tied to stock price triggers intended to replicate the performance-based vesting conditions applicable to the performance-based Incentive Units prior to the closing of the Issuer's IPO. Includes 11,876 shares of Common Stock subject to performance-based vesting conditions. The shares of Common Stock subject to the stock option are fully vested. The shares of Common Stock subject to the stock option vest annually in five substantially equal installments from the vesting commencement date of February 8, 2023, subject to the Reporting Person's continued service with the Issuer. Approximately 64.1% of the shares of Common Stock subject to the stock option have vested, and the remaining shares of Common Stock subject to the stock option will vest upon the attainment of a prescribed stock price target of $24.97 per share, which target is measured based on the volume weighted average closing price per share of Common Stock over any consecutive sixty (60) trading day period, with the measurement period commencing on the first business day immediately following the expiration of the 180-day lock-up period, subject to the Reporting Person's continued service with the Issuer.
FAQ
What insider ownership did Lumexa Imaging (LMRI) report for Julie Szeker?
The report shows that Julie Szeker, Chief Legal Officer and Corporate Secretary of Lumexa Imaging Holdings, Inc., holds common units, incentive units and multiple stock option awards that together provide rights to acquire shares of Lumexa common stock, subject to vesting and other conditions.
What stock options does the Lumexa Imaging (LMRI) officer hold and at what price?
Julie Szeker holds three stock option awards covering 41,665, 22,222 and 63,887 shares of Lumexa common stock. Each option has an exercise price of $18.5 per share and an expiration date of December 10, 2035.
How do the performance-based vesting conditions work for Lumexa Imaging (LMRI) equity awards?
Among the incentive-based holdings, 11,876 shares of common stock are subject to performance-based vesting. For the performance-based stock option on 63,887 shares, about 64.1% has vested, and the remaining portion vests only if Lumexa’s stock reaches a volume‑weighted average price of $24.97 over any 60 consecutive trading days after the 180‑day IPO lock‑up period, while the officer remains in service.
What happens to Lumexa Imaging (LMRI) incentive units at the IPO closing?
At the closing of Lumexa’s IPO, the incentive units held in Lumexa Imaging Equity Holdco, LLC are to be converted into shares of common stock based on the intrinsic value of the awards at that time. Shares issued in replacement of unvested incentive units will be delivered as restricted stock awards that continue to follow time-based and performance-based vesting conditions similar to those in place before the IPO.
Why was the Lumexa Imaging (LMRI) insider ownership report filed late?
The remarks explain that the report was filed late due to unanticipated delays in receiving the Reporting Person's EDGAR codes, which were understood to result from a high volume of applications at that time.