Rigel Pharmaceuticals (RIGL) CFO exercises options and withholds shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Rigel Pharmaceuticals EVP & Chief Financial Officer Dean L. Schorno exercised stock options and settled related taxes in shares. On June 1, 2026, he exercised options for 2,181 shares of common stock at $12.70 per share and 1,200 shares at $18.70 per share. To cover tax obligations, 928 shares of common stock were disposed of at a value of $29.86 per share, a tax-withholding transaction rather than an open-market sale. Following these transactions, he directly held 78,790 shares of Rigel common stock. The filing also notes all share amounts reflect a one-for-ten reverse stock split effective June 27, 2024.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,381 shares exercised/converted
Mixed
5 txns
Insider
Schorno Dean L
Role
EVP & Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) | 1,200 | $0.00 | -- |
| Exercise | Employee Stock Option (right to buy) | 2,181 | $0.00 | -- |
| Exercise | Common Stock | 1,200 | $18.70 | $22K |
| Exercise | Common Stock | 2,181 | $12.70 | $28K |
| Tax Withholding | Common Stock | 928 | $29.86 | $28K |
Holdings After Transaction:
Employee Stock Option (right to buy) — 9,632 shares (Direct, null);
Common Stock — 77,537 shares (Direct, null)
Footnotes (1)
- These numbers have been adjusted to reflect the one-for-ten reverse stock split effective June 27, 2024. The shares of common stock subject to the option vest in equal monthly installments over four (4) years from the vesting commencement date of January 1, 2023, subject to the Reporting Person's continuous service to the Issuer through each such period. The shares of common stock subject to the option vest monthly over three (3) years from the vesting commencement date of January 23, 2024, subject to the Reporting Person's continuous service to the issuer through each such period.
Key Figures
Options exercised at $12.70: 2,181 shares
Options exercised at $18.70: 1,200 shares
Shares used for tax withholding: 928 shares at $29.86
+5 more
8 metrics
Options exercised at $12.70
2,181 shares
Employee stock options exercised on June 1, 2026 at $12.70
Options exercised at $18.70
1,200 shares
Employee stock options exercised on June 1, 2026 at $18.70
Shares used for tax withholding
928 shares at $29.86
Tax-withholding disposition of common stock on June 1, 2026
Common shares held after transactions
78,790 shares
Direct ownership following June 1, 2026 transactions
Remaining options (grant 1)
13,518 options
Employee stock option, expiration January 23, 2034
Remaining options (grant 2)
9,632 options
Employee stock option, expiration January 26, 2033
Reverse stock split ratio
1-for-10
Effective June 27, 2024; all share counts adjusted
Total options exercised
3,381 shares
Exercise count in transaction summary for June 1, 2026
Key Terms
Employee Stock Option (right to buy), tax-withholding disposition, derivative security, one-for-ten reverse stock split, +1 more
5 terms
Employee Stock Option (right to buy) financial
"security_title: "Employee Stock Option (right to buy)""
tax-withholding disposition financial
"transaction_action: "tax-withholding disposition" for 928 shares"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
derivative security financial
"transaction_code_description: "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
one-for-ten reverse stock split financial
"footnote: "adjusted to reflect the one-for-ten reverse stock split""
vesting commencement date financial
"footnotes describe options vesting from the vesting commencement date"
The vesting commencement date is the starting point when an employee begins earning ownership rights to their promised benefits, such as stock options or retirement contributions. Think of it like the day a savings account is opened—only after this date do the benefits start to grow and become fully available over time. It matters to investors because it marks when the clock begins ticking toward full ownership, affecting the timing and value of these benefits.
FAQ
What insider transaction did RIGEL PHARMACEUTICALS (RIGL) report for Dean L. Schorno?
Rigel reported that EVP & CFO Dean L. Schorno exercised employee stock options for 3,381 shares of common stock and used 928 shares to satisfy tax obligations, leaving him with 78,790 directly held shares after the transactions.
How do the Rigel (RIGL) CFO’s remaining employee stock options vest?
The options vest in monthly installments. One grant vests over four years from January 1, 2023, and another over three years from January 23, 2024, subject to Dean L. Schorno’s continued service with Rigel Pharmaceuticals.