SpyGlass Pharma (SGP) director Arshad reports stock and option holdings
Rhea-AI Filing Summary
SpyGlass Pharma director Khan Bilal Arshad filed an initial ownership report showing his equity position in the company. He reports direct ownership of 5,450 shares of common stock and indirect beneficial ownership of 136,427 shares held by New World Medical, Inc., where he serves as Chief Executive Officer with voting and investment control.
He also holds stock options to purchase 11,992 shares of common stock at $2.18 per share and 48,533 shares at $7.11 per share. These options vest over time, subject to his continued service, with vesting schedules starting from September 20, 2023 and August 6, 2025.
Positive
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Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Khan Bilal Arshad
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (right to buy) — 60,525 shares (Direct);
Common Stock — 5,450 shares (Direct);
Common Stock — 136,427 shares (Indirect, See footnote)
Footnotes (4)
- F1. Shares held by New World Medical, Inc. (New World Medical). The Reporting Person is the Chief Executive Officer of New World Medical and as such has voting and investment control over the shares held by New World Medical.
- F2. Subject to the Reporting Person continuing to be a Service Provider (as defined in the Issuer's Amended and Restated 2019 Equity Incentive Plan) through each applicable date, twenty-five percent (25%) of the shares subject to the option shall vest on the one (1) year anniversary of the Vesting Commencement Date, and one thirty-sixth (1/36th) of the remaining shares subject to the option shall vest each month thereafter on the same day of the month as the Vesting Commencement Date (and if there is no corresponding day, on the last day of the month). "Vesting Commencement Date" shall mean September 20, 2023.
- F3. Of the 100,000 shares subject to the option that were originally granted prior to a 5.7329 to 1 reverse stock split, 31,250 shares were exercised pre-reverse stock split and prior to the Reporting Person becoming a Section 16 director.
- F4. Subject to the Reporting Person continuing to be a Service Provider (as defined in the Issuer's Amended and Restated 2019 Equity Incentive Plan) through each applicable date, twenty-five percent (25%) of the shares subject to the option shall vest on the one (1) year anniversary of the Vesting Commencement Date, and one thirty-sixth (1/36th) of the remaining shares subject to the option shall vest each month thereafter on the same day of the month as the Vesting Commencement Date (and if there is no corresponding day, on the last day of the month). "Vesting Commencement Date" shall mean August 6, 2025.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What does the Form 3 filing show for SpyGlass Pharma (SGP)?
The Form 3 shows the initial equity holdings of director Khan Bilal Arshad in SpyGlass Pharma. It lists his direct and indirect common stock ownership, as well as stock options with specified share amounts, exercise prices, and service-based vesting schedules tied to defined vesting commencement dates.
What indirect SpyGlass Pharma (SGP) ownership is reported through New World Medical?
The filing reports 136,427 SpyGlass Pharma common shares held indirectly through New World Medical, Inc. Arshad is Chief Executive Officer of New World Medical and has voting and investment control over these shares, so they are reported as his indirect beneficial ownership.
What stock options in SpyGlass Pharma (SGP) does Khan Bilal Arshad hold?
Arshad holds two stock option grants to buy SpyGlass Pharma common shares. One covers 11,992 shares at an exercise price of $2.18 expiring September 19, 2033, and another covers 48,533 shares at $7.11 expiring August 5, 2035, both subject to vesting conditions.
How do the SpyGlass Pharma (SGP) stock options for Arshad vest?
Both option grants vest based on continued service as a Service Provider. For each grant, 25% vests on the one-year anniversary of its Vesting Commencement Date, with the remaining shares vesting monthly in equal installments over thirty-six months thereafter.
What are the vesting commencement dates for Arshad’s SpyGlass Pharma (SGP) options?
The first option grant uses a vesting commencement date of September 20, 2023. The second option grant uses a vesting commencement date of August 6, 2025. Each grant’s vesting schedule is calculated from its respective vesting commencement date, subject to continued service.