PAVmed Form 4: Lishan Aklog Receives 150K Restricted Shares
Rhea-AI Filing Summary
Dr. Lishan Aklog, Chairman and CEO of PAVmed Inc. (PAVM), reported on Form 4 the grant of 150,000 restricted shares on 09/30/2025. The shares were granted under the company's Sixth Amended and Restated 2014 Long-Term Incentive Equity Plan at a $0 purchase price and vest on May 20, 2028, subject to forfeiture if service requirements are not met. After the transaction Dr. Aklog directly beneficially owns 228,418 shares and indirectly holds additional positions: 154 shares via his daughter, 152 via his son, 297,105 through Pavilion Venture Partners LLC (of which he is sole manager), and 1,333 through HCFP/AG LLC (co-managed). The filing was signed by power of attorney on 10/02/2025.
Positive
- 150,000 restricted shares granted to the Chairman and CEO, indicating executive alignment with shareholders
- Grant vests on a fixed date (May 20, 2028), tying compensation to continued service
- Form 4 discloses indirect holdings and managerial roles, improving transparency about voting power
Negative
- Restricted shares are subject to forfeiture until May 20, 2028, so immediate economic alignment is limited
- Grant at $0 increases diluted share count once vested, potentially affecting existing shareholders
Insights
CEO received restricted stock with multi-year vesting, aligning pay with tenure.
The reported 150,000 restricted shares vest on May 20, 2028, tying a portion of executive compensation to continued service through that date. Grants at $0 are typical for restricted stock awards and reflect compensation rather than open‑market purchases.
The filing also shows indirect holdings through Pavilion Venture Partners LLC and HCFP/AG LLC, where Dr. Aklog has voting or managerial roles; he disclaims beneficial ownership except for pecuniary interest. This clarifies governance relationships and voting power decomposition.
Transaction is a compensatory grant reported under Section 16; standard disclosure steps were followed.
The Form 4 records a compensatory issuance rather than a market purchase or sale, and the signature by power of attorney on 10/02/2025 completes timely reporting. The restricted nature of the shares and explicit vesting date indicate they are subject to forfeiture until May 20, 2028, which affects when they become tradable by the insider.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 150,000 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Represents restricted stock granted to the reporting person under the issuer's Sixth Amended and Restated 2014 Long-Term Incentive Equity Plan with a single vesting date of May 20, 2028. Such restricted stock is subject to forfeiture if the requisite service period is not completed. Dr. Aklog is a member and sole manager of Pavilion Venture Partners LLC, and therefore has sole voting and dispositive power over the securities held by this entity. Dr. Aklog disclaims beneficial ownership of securities held by this entity, except to the extent of his proportionate pecuniary interest therein. Dr. Aklog is a co-manager of HCFP/AG LLC, and therefore has joint voting and dispositive power over the securities held by this entity. Dr. Aklog disclaims beneficial ownership of securities held by this entity, except to the extent of his proportionate pecuniary interest therein.
