Rigel (RIGL) CFO’s 7,394-share performance-based stock option fully vests
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Rigel Pharmaceuticals EVP & Chief Financial Officer Dean L. Schorno reported the acquisition of an employee stock option covering 7,394 shares of common stock. The option was originally granted on January 29, 2025 with an exercise price of $22.49 per share.
The award carried a performance-based vesting condition and was not reportable until that metric was satisfied. On June 17, 2026, the company determined the performance metric had been met, and the option became fully vested, leaving Schorno with 7,394 option shares following the transaction.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Schorno Dean L
Role
EVP & Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Employee Stock Option (right to buy) | 7,394 | $0.00 | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 7,394 shares (Direct, null)
Footnotes (1)
- The Reporting Person was granted a stock option with a performance-based condition with respect to 7,394 shares of the Issuer's common stock on January 29, 2025. The exercise price of this option is $22.49, which is the closing price of the Issuer's common stock on Nasdaq on the date of grant. In light of the performance-based vesting condition, this grant was not reportable under Section 16 until the performance metric was satisfied. On June 17, 2026, it was determined that the performance metric had been met. The option was fully vested on June 17, 2026, the date the determination was made that the performance metric had been met.
Key Figures
Option shares granted: 7,394 shares
Exercise price: $22.49 per share
Grant date: January 29, 2025
+3 more
6 metrics
Option shares granted
7,394 shares
Employee stock option tied to Rigel common stock
Exercise price
$22.49 per share
Closing price on Nasdaq on January 29, 2025
Grant date
January 29, 2025
Date the performance-based stock option was granted
Vesting determination date
June 17, 2026
Date performance metric was determined to be met
Expiration date
January 29, 2035
Scheduled expiration of the option award
Shares after transaction
7,394 option shares
Total related to this award following the transaction
Key Terms
performance-based condition, exercise price, Section 16, fully vested, +1 more
5 terms
performance-based condition financial
"The Reporting Person was granted a stock option with a performance-based condition with respect to 7,394 shares"
exercise price financial
"The exercise price of this option is $22.49, which is the closing price"
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.
Section 16 regulatory
"this grant was not reportable under Section 16 until the performance metric was satisfied"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
fully vested financial
"The option was fully vested on June 17, 2026, the date the determination was made"
Employee Stock Option (right to buy) financial
"security_title: Employee Stock Option (right to buy)"
FAQ
What insider transaction did Rigel Pharmaceuticals (RIGL) report for Dean L. Schorno?
Rigel Pharmaceuticals reported that EVP & Chief Financial Officer Dean L. Schorno acquired an employee stock option for 7,394 shares of common stock. The filing records this award once its performance-based vesting condition was met and the option became fully vested.
What are the key terms of Dean Schorno’s Rigel (RIGL) stock option grant?
Dean Schorno’s option covers 7,394 shares of Rigel common stock at an exercise price of $22.49 per share. The option was granted on January 29, 2025 and is scheduled to expire on January 29, 2035, subject to its terms.
When did the performance condition vesting Dean Schorno’s Rigel (RIGL) options get satisfied?
The performance metric for Dean Schorno’s option was determined to be met on June 17, 2026. On that date, the option became fully vested, triggering the reporting obligation under Section 16 for this performance-based stock option award.
Why was Dean Schorno’s Rigel (RIGL) stock option not reported earlier under Section 16?
The option carried a performance-based vesting condition, so it was not reportable under Section 16 until the performance metric was satisfied. Once the company determined the metric was achieved on June 17, 2026, the now-vested option award was reported.