BeOne Medicines (ONC) COO awarded shares and options, sells ADS for tax withholding
Rhea-AI Filing Summary
BeOne Medicines President and COO Wu Xiaobin reported new equity awards and a small tax-related sale. He received 118,625 Ordinary Shares through a restricted share unit grant and 229,775 share options with a $20.81 exercise price, both as compensation.
He also sold 626 American Depositary Shares at a weighted average price of $261.2017 per ADS to satisfy mandatory tax withholding tied to earlier restricted share unit vesting. After these awards, he directly holds 1,308,161 Ordinary Shares and 229,775 share options, and indirectly 4,000 ADS held by his wife.
Positive
- None.
Negative
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Insights
Comp-heavy Form 4: large new grants, small tax-driven sale.
The filing shows Wu Xiaobin, President and COO of BeOne Medicines Ltd., receiving 118,625 Ordinary Shares via restricted share units and 229,775 options with a $20.81 exercise price. These are compensation grants that increase his long-term equity exposure.
The 626 American Depositary Shares sold at a weighted average $261.2017 per ADS were executed under a mandatory tax-withholding provision, according to the footnotes. This indicates the sale is mechanistic tax settlement, not a discretionary reduction in ownership. After these transactions, he holds 1,308,161 Ordinary Shares, 229,775 options, and 4,000 indirectly owned ADS, suggesting the overall activity is routine and primarily compensation-related.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Share Option (Right to Buy) | 229,775 | $0.00 | -- |
| Grant/Award | Ordinary Shares | 118,625 | $0.00 | -- |
| Sale | American Depositary Shares | 626 | $261.2017 | $164K |
| holding | American Depositary Shares | -- | -- | -- |
| holding | American Depositary Shares | -- | -- | -- |
Footnotes (1)
- Represents securities underlying restricted share units. 1/4th of the securities will vest on each anniversary of June 11, 2026, subject to continued service. Unvested securities are subject to accelerated vesting upon certain termination events. Each American Depositary Share represents 13 Ordinary Shares. The sale was effected pursuant to a mandatory tax withholding provision in the Reporting Person's restricted share unit award agreement in connection with the vesting of a restricted share unit award previously granted to the Reporting Person. 1/4th of the securities will vest on each anniversary of June 10, 2025, subject to continued service. Unvested securities are subject to accelerated vesting upon certain termination events following a change in control. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $261.19 to $261.29, inclusive. The Reporting Person has provided to the Issuer, and undertakes to provide to the staff of the Securities and Exchange Commission or any security holder of the Issuer, upon request, full information regarding the number of American Depositary Shares sold at each separate price. The number of securities underlying each option and the exercise price therefor are represented in ordinary shares. These securities vest over a four-year period as follows: 25% on the first anniversary of June 11, 2026 with the remaining shares vesting in 36 equal successive monthly installments thereafter, subject to continued service. Unvested securities are subject to accelerated vesting upon certain termination events.