Oncotelic Therapeutics (OTLC) grants 1,500 performance RSUs to director
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
MAIDA ANTHONY E III reported acquisition or exercise transactions in this Form 4 filing.
Oncotelic Therapeutics, Inc. reported that director and Chief Medical Officer – Translational Medicine Anthony E. Maida III received a grant of 1,500 restricted stock units (RSUs) on July 10, 2026 at no cost. Each RSU settles into one share of Series A Convertible Preferred Stock, which is convertible into 1,000 shares of common stock. The RSUs are subject to performance and time-based vesting, becoming eligible upon an uplisting of the company’s common stock to a national securities exchange on or before June 30, 2027 (or a later Board-approved date) and the executive’s continued service for six months following the uplisting.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
MAIDA ANTHONY E III
Role
DIRECTOR AND CMO - TRANS. MED.
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted stock Units | 1,500 | $0.00 | -- |
Holdings After Transaction:
Restricted stock Units — 1,500 shares (Direct)
Footnotes (1)
- On July 10, 2026, the reporting person was granted 1,500 restricted stock units ("RSUs"), subject to performance and time-based vesting. On vesting each RSU will immediately be settled by delivery of, and each RSU represents the contingent right to receive, one share of the issuer's Series A Convertible Preferred Stock, par value $0.01. Each share of Series A Convertible Preferred Stock, in turn, is convertible into 1,000 shares of the issuer's common stock, par value $0.01 per share. The RSU's will vest upon (a) achievement of an uplisting of the issuer's common stock to a national securities exchange on or before June 30, 2027 (or such later date as the Board of Directors may approve), subject to the reporting person's continued service for a period of six months following the uplisting.
Key Figures
RSUs granted: 1,500 RSUs
Grant price per RSU: $0.0000 per RSU
Underlying preferred shares: 1,500 shares Series A Convertible Preferred Stock
+2 more
5 metrics
RSUs granted
1,500 RSUs
Restricted stock units granted to Anthony E. Maida III on July 10, 2026
Grant price per RSU
$0.0000 per RSU
Equity award granted at no cash cost to the reporting person
Underlying preferred shares
1,500 shares Series A Convertible Preferred Stock
Each RSU settles into one share of Series A Convertible Preferred Stock upon vesting
Conversion ratio
1 preferred share = 1,000 common shares
Each Series A Convertible Preferred share is convertible into 1,000 common shares
Performance deadline
June 30, 2027
Uplisting to a national securities exchange required by this date unless extended by the Board
Key Terms
Restricted stock units, Series A Convertible Preferred Stock, performance and time-based vesting, uplisting, +1 more
5 terms
Restricted stock units financial
"the reporting person was granted 1,500 restricted stock units ("RSUs"), subject to performance"
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.
Series A Convertible Preferred Stock financial
"one share of the issuer's Series A Convertible Preferred Stock, par value $0.01"
Series A convertible preferred stock is a class of shares sold in an early funding round that gives investors a mix of protection and upside: it pays a priority claim over common shares if the company is sold or closes, but can be converted into ordinary shares to share in future growth. Think of it like a hybrid between a safer stake and a ticket to ownership; it matters to investors because it affects who controls the company, how future gains are split, and how much their investment is protected from downside.
performance and time-based vesting financial
"granted 1,500 restricted stock units ("RSUs"), subject to performance and time-based vesting"
uplisting financial
"will vest upon (a) achievement of an uplisting of the issuer's common stock"
Uplisting occurs when a company's stock moves from a less regulated, smaller exchange to a more established and widely recognized one. This transition can make the stock more accessible and attractive to a broader range of investors, potentially increasing its value and trading volume. For investors, uplisting often signals growth and stability, which can influence confidence and trading decisions.
national securities exchange regulatory
"uplisting of the issuer's common stock to a national securities exchange on or before June 30, 2027"
A national securities exchange is a regulated marketplace where buyers and sellers trade stocks, bonds and other securities and where companies meet requirements to have their shares available to the public. It matters to investors because the exchange enforces rules, provides transparent prices and a steady flow of buyers and sellers—like a supervised marketplace that helps ensure fair pricing, easier buying and selling, and basic investor protections.
FAQ
What equity award did Oncotelic Therapeutics (OTLC) grant to Anthony E. Maida III?
Oncotelic Therapeutics granted Anthony E. Maida III 1,500 restricted stock units (RSUs) as compensation. Each RSU will settle into one share of Series A Convertible Preferred Stock, which is itself convertible into 1,000 shares of common stock upon vesting.
What are the vesting conditions for the new OTLC RSU grant?
The 1,500 RSUs vest only if Oncotelic uplists its common stock to a national securities exchange by June 30, 2027 (or a later Board-approved date) and Anthony E. Maida III remains in service for six months after that uplisting.
How is the OTLC RSU award economically structured for Anthony E. Maida III?
The award costs the executive $0.0000 per RSU and each RSU converts into one Series A Convertible Preferred share. Each preferred share can then be converted into 1,000 common shares, creating leveraged exposure if vesting conditions are met.
What role does Anthony E. Maida III hold at Oncotelic Therapeutics (OTLC)?
Anthony E. Maida III is both a director and the Chief Medical Officer – Translational Medicine at Oncotelic Therapeutics. The reported RSU grant reflects equity-based compensation tied to his continued service and a future stock exchange uplisting.
Does Oncotelic Therapeutics receive cash from this OTLC RSU grant?
No cash changes hands in this grant; the 1,500 RSUs were awarded at a price of $0.0000 per unit. It represents non-cash equity compensation that may convert into preferred and ultimately common stock if vesting conditions are achieved.