Palatin Technologies (PTN) director granted new 2,900-share stock option
Rhea-AI Filing Summary
PALATIN TECHNOLOGIES INC director John K A Prendergast reported receiving a stock option covering 2,900 shares of common stock at an exercise price of $7.70 per share under the 2011 Stock Incentive Plan. The option vests 50% on August 3, 2027 and 50% on August 3, 2028, and expires on August 3, 2037, leaving him with stock options over 26,921 shares in total.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
1 transaction reported
Mixed
1 txn
Insider
PRENDERGAST JOHN K A
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Voting Trust | Stock Option (Right to Buy) F1 | 2,900 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Option (Right to Buy) — 26,921 shares (Direct)
Footnotes (1)
- F1. Stock Option granted under the 2011 Stock Incentive Plan as amended. The option vests as to 50% on August 3, 2027 and as to the remaining 50% on August 3, 2028. The option was granted by the Compensation Committee on August 3, 2026, and there was no impediment to the grant of option.
Key Figures
Option grant size: 2,900 shares
Exercise price: $7.70 per share
Options after grant: 26,921 shares
+2 more
5 metrics
Option grant size
2,900 shares
Stock option covering 2,900 shares of common stock
Exercise price
$7.70 per share
Conversion or exercise price of the stock option
Options after grant
26,921 shares
Total derivative securities held following the transaction
Vesting dates
August 3, 2027; August 3, 2028
50% of the option vests on each of these dates
Expiration date
2037-08-03
Option expiration date for the stock option grant
Key Terms
Stock Option (Right to Buy), 2011 Stock Incentive Plan, vesting, voting trust
4 terms
Stock Option (Right to Buy) financial
"Reported security title was Stock Option (Right to Buy)"
2011 Stock Incentive Plan financial
"Stock Option granted under the 2011 Stock Incentive Plan as amended"
vesting financial
"The option vests as to 50% on August 3, 2027"
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.
voting trust financial
"Transaction code description is Deposit into or withdrawal from voting trust"
A voting trust is an arrangement where shareholders temporarily transfer their voting rights to one or more trusted individuals (trustees) who vote on company matters on their behalf. It matters to investors because it consolidates decision-making power—like handing the car keys to a single driver for a journey—which can stabilize leadership or push through strategic plans but also reduces individual shareholders’ direct influence and can affect the company’s direction and stock value.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Palatin Technologies (PTN) report for John K A Prendergast?
John K A Prendergast, a director of Palatin Technologies (PTN), reported receiving a stock option covering 2,900 shares at a $7.70 exercise price. The option vests in two equal installments in August 2027 and August 2028 and expires in August 2037 under the 2011 plan.
What are the vesting terms of the new Palatin Technologies (PTN) stock option?
The stock option vests in two equal tranches: 50% of the option vests on August 3, 2027, and the remaining 50% vests on August 3, 2028. Vesting must occur before the holder can exercise the option for Palatin shares.
When does John K A Prendergast’s new PTN stock option expire and what is the exercise price?
The option expires on August 3, 2037 and carries an exercise price of $7.70 per share. This means the holder can buy Palatin Technologies common shares at $7.70, once vested, any time before the stated 2037 expiration date.
How many Palatin Technologies (PTN) options does John K A Prendergast hold after this grant?
After this grant, John K A Prendergast holds options over 26,921 shares of Palatin Technologies common stock. This figure represents his total reported derivative holdings following the transaction, including the newly granted 2,900-share stock option.
Was John K A Prendergast’s Palatin Technologies (PTN) option grant made under a trading plan?
The report indicates the transaction was made pursuant to a Rule 10b5-1 trading arrangement. This is shown by the affirmative Rule 10b5-1 checkbox, which signals the option grant occurred under a pre-established trading or compensation-related plan framework.