ProKidney CTO granted 750,000 stock options
PROKIDNEY CORP. reported that Chief Technical Officer Kenneth Thomas Locke received an employee stock option grant covering 750,000 shares of Class A Common Stock.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
PROKIDNEY CORP. reported that Chief Technical Officer Kenneth Thomas Locke received an employee stock option grant covering 750,000 shares of Class A Common Stock. The options have an exercise price of $1.8900 per share and expire on July 1, 2036.
The award is compensation-related rather than an open-market purchase. According to the vesting terms, 25% of the option vests on the first anniversary of July 1, 2026, with the remaining 75% vesting in substantially equal monthly installments over the following 36 months, subject to continued employment. Following this grant, Locke holds 750,000 derivative securities directly.
Insider Trade Summary
Grant/Award: 750,000 shares
Grant/Award
1 txn
Insider
Locke Kenneth Thomas
Role
Chief Technical Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Employee stock option (right to buy) | 750,000 | $0.00 | $0.00 |
Holdings After Transaction:
Employee stock option (right to buy) — 750,000 contracts (Direct)
Footnotes (1)
- F1. The option vests 25% on 1st anniversary of July 1, 2026 and the remaining 75% vests in substantially equal monthly installments for 36 months thereafter, subject to continued employment.
Key Figures
Option grant size: 750,000 options
Exercise price: $1.8900 per share
Underlying shares: 750,000 shares
+4 more
7 metrics
Option grant size
750,000 options
Employee stock option grant to CTO on July 1, 2026
Exercise price
$1.8900 per share
Strike price for employee stock options
Underlying shares
750,000 shares
Class A Common Stock underlying the options
Expiration date
July 1, 2036
Option expiration for CTO grant
Post-transaction derivative holdings
750,000 options
Total derivative securities held directly after grant
Initial vesting portion
25% of grant
Vests on first anniversary of July 1, 2026
Remaining vesting period
36 months
Monthly vesting of remaining 75% after first anniversary
Key Terms
Employee stock option, Class A Common Stock, exercise price, vesting, +1 more
5 terms
Employee stock option financial
"Employee stock option (right to buy)"
An employee stock option is a promise that lets a worker buy company shares later at a predetermined price, often after they stay for a certain period or meet performance goals — think of it like a coupon that locks in today's price for a future purchase. It matters to investors because options align employees’ incentives with company performance, can increase the number of shares outstanding (dilution) when exercised, and represent a compensation cost that affects reported profits and shareholder value.
Class A Common Stock financial
"underlying_security_title: "Class A Common Stock""
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
exercise price financial
"conversion_or_exercise_price: "1.8900""
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
vesting financial
"The option vests 25% on 1st anniversary of July 1, 2026"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
expiration date financial
"expiration_date: "2036-07-01T00:00:00.000Z""
The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did PROKIDNEY CORP. (PROK) disclose about Kenneth Locke in this Form 4?
The filing shows Chief Technical Officer Kenneth Thomas Locke received a grant of 750,000 employee stock options. These options are compensation-related awards, not open-market purchases, and give him the right to buy Class A Common Stock at a fixed exercise price if they vest.
How many stock options did PROKIDNEY CORP. (PROK) grant to its CTO?
Kenneth Thomas Locke was granted 750,000 employee stock options. Each option relates to one share of Class A Common Stock, giving him the right to buy up to 750,000 shares if he exercises the options after they vest and before expiration.
What is the exercise price and expiration date of the PROK CTO’s options?
The options have an exercise price of $1.8900 per share and expire on July 1, 2036. This means Locke can purchase Class A Common Stock at $1.8900 per share, once vested, any time before the July 1, 2036 expiration date.
How do the PROK CTO stock options vest over time?
Vesting occurs 25% on the first anniversary of July 1, 2026, with the remaining 75% vesting in substantially equal monthly installments over 36 months. Vesting is conditioned on Kenneth Thomas Locke’s continued employment with ProKidney during the vesting period.
Is this PROK Form 4 transaction a stock purchase or a compensation grant?
The transaction is a compensation grant, coded as a grant, award, or other acquisition. It represents an employee stock option award rather than an open-market stock purchase, so no cash outlay by Kenneth Thomas Locke occurred at the time of grant.
What are Kenneth Locke’s derivative holdings after this PROK option grant?
After the transaction, Kenneth Thomas Locke holds 750,000 derivative securities directly. These consist of the newly granted employee stock options tied to Class A Common Stock, as reported in the Form 4’s total shares following the transaction field.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Accepted by SEC EDGAR
Learn about SEC filing dates