Solid Biosciences (SLDB) CTO earns 54,925 RSUs on performance milestone
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Solid Biosciences Inc. reported that Chief Technology Officer Paul Herzich acquired 54,925 restricted stock units (RSUs) linked to the company’s common stock as part of his equity compensation. These RSUs were earned under performance stock units (PSUs) originally granted on June 11, 2024.
The PSUs vest in four equal 25% tranches upon achieving independent, pre-set performance milestones tied to business objectives. The Board determined the second milestone was met on January 29, 2026, triggering this 54,925-unit award. These shares will actually vest only if Herzich remains in service on the related Evaluation Date, anticipated in the first quarter of 2027.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
1 transaction reported
Mixed
1 txn
Insider
Herzich Paul
Role
Chief Technology Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 54,925 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Units — 54,925 shares (Direct, null)
Footnotes (1)
- Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock (the "RSUs"). Performance stock units ("PSUs") were granted on June 11, 2024, and provide for the vesting of 25% of the target number of underlying RSUs granted upon the achievement of each of four independent performance milestones predetermined by the Board ("Performance Milestones"). The Performance Milestones are tied to the achievement of certain business objectives, as certified by the Board on specified evaluation dates, and are non-market and non-financial in nature. The performance criteria specified for the second Performance Milestone was determined by the Board to be met on January 29, 2026, and the shares related to such Performance Milestone will vest subject to the grantee's continued service with the Company on the Evaluation Date, which is anticipated to occur in the first quarter of 2027.
Key Figures
RSUs granted: 54,925 units
Shares following transaction: 54,925 units
Grant date of PSUs: June 11, 2024
+3 more
6 metrics
RSUs granted
54,925 units
Restricted stock units tied to common stock from PSU award
Shares following transaction
54,925 units
Total RSUs reported as held after this grant
Grant date of PSUs
June 11, 2024
Original performance stock unit grant date
Milestone certification date
January 29, 2026
Second performance milestone determined achieved by Board
Vesting structure
25% per milestone
Four independent performance milestones under PSU award
Expected vesting window
Q1 2027
Anticipated Evaluation Date for vesting of related RSUs
Key Terms
Restricted Stock Units, Performance stock units, Performance Milestones, non-market and non-financial, +1 more
5 terms
Restricted Stock Units financial
"Each restricted stock unit represents a contingent right to receive one share"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Performance stock units financial
"Performance stock units ("PSUs") were granted on June 11, 2024"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
Performance Milestones financial
"four independent performance milestones predetermined by the Board ("Performance Milestones")"
non-market and non-financial financial
"The Performance Milestones are tied to business objectives and are non-market and non-financial in nature"
Evaluation Date financial
"subject to continued service on the Evaluation Date, anticipated in the first quarter of 2027"
FAQ
What insider transaction did Solid Biosciences (SLDB) report for Paul Herzich?
Solid Biosciences reported Chief Technology Officer Paul Herzich receiving 54,925 restricted stock units. These RSUs come from previously granted performance stock units that vested when a non-financial performance milestone was certified as achieved by the Board on January 29, 2026, subject to future service.
How many RSUs did the SLDB CTO acquire in this Form 4 filing?
The CTO acquired 54,925 restricted stock units tied to Solid Biosciences common stock. Each RSU represents the right to receive one share, contingent on continued service through a specified Evaluation Date expected in the first quarter of 2027 under the performance award terms.
What are the terms of the performance stock units mentioned for Solid Biosciences (SLDB)?
The performance stock units were granted on June 11, 2024 and are linked to four independent performance milestones. Each milestone triggers vesting of 25% of the target RSUs when the Board certifies achievement of specific non-market, non-financial business objectives on designated evaluation dates.
Why did 54,925 RSUs become earned for the SLDB CTO on January 29, 2026?
The Board determined that the second performance milestone under the June 11, 2024 PSU grant had been met on January 29, 2026. That certification caused 25% of the target RSUs, equal to 54,925 units, to be awarded, subject to the CTO’s continued service through the Evaluation Date.
When will the newly awarded RSUs for Solid Biosciences’ CTO actually vest?
The RSUs related to the second performance milestone will vest only if the grantee continues service through the Evaluation Date. That Evaluation Date is anticipated to occur in the first quarter of 2027, according to the performance award’s terms and the Board’s certification language.
Are the SLDB performance milestones based on stock price or financial metrics?
No, the performance milestones are described as non-market and non-financial in nature. They are tied to the achievement of certain business objectives that the Board certifies on specified evaluation dates, rather than to stock price movements or traditional financial performance measures like revenue or earnings.