Solid Biosciences (SLDB) CFO awarded 56,647 RSUs after performance milestone
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Solid Biosciences Inc. reported that CFO & Treasurer Kevin Tan acquired 56,647 restricted stock units tied to prior performance-based awards. Each unit represents a contingent right to receive one share of common stock, bringing his directly held RSU-based position reported in this filing to 56,647 units.
These RSUs relate to performance stock units granted on June 11, 2024, which vest in four equal 25% tranches upon achieving predetermined, non-market and non-financial performance milestones. The second milestone was certified as achieved on January 29, 2026, with the associated shares scheduled to vest only if he remains in service through an 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
Tan Kevin
Role
CFO & Treasurer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 56,647 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Units — 56,647 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 acquired: 56,647 units
Underlying common shares: 56,647 shares
Performance milestones: 4 milestones
+4 more
7 metrics
RSUs acquired
56,647 units
Restricted stock units acquired on January 29, 2026
Underlying common shares
56,647 shares
Each RSU equals one share of common stock
Performance milestones
4 milestones
PSUs vest in four independent performance milestones
Tranche per milestone
25% of target RSUs
Each milestone vests 25% of target underlying RSUs
PSU grant date
June 11, 2024
Original grant date of performance stock units
Milestone 2 achievement
January 29, 2026
Date Board determined second milestone was met
Expected vesting timing
Q1 2027
Evaluation date anticipated in first quarter of 2027
Key Terms
Restricted Stock Units, Performance stock units ("PSUs"), performance milestones, non-market and non-financial in nature, +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 ("PSUs") financial
"Performance stock units ("PSUs") were granted on June 11, 2024"
performance milestones financial
"vesting of 25% of the target number of underlying RSUs granted upon the achievement of each of four independent performance milestones"
non-market and non-financial in nature financial
"Performance Milestones are tied to the achievement of certain business objectives... and are non-market and non-financial in nature"
contingent right financial
"Each restricted stock unit represents a contingent right to receive one share"
FAQ
What did Solid Biosciences (SLDB) CFO Kevin Tan report in this Form 4?
Kevin Tan reported an acquisition of 56,647 restricted stock units. These units stem from earlier performance stock unit grants and each represents a contingent right to receive one share of Solid Biosciences common stock, subject to future vesting conditions and continued service requirements.
How many restricted stock units did the SLDB CFO receive in this transaction?
The CFO received 56,647 restricted stock units. Each RSU corresponds to one share of common stock, and this amount matches the total RSU-based holdings reported following the transaction in the filing, reflecting the portion tied to an achieved performance milestone.
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 underlying restricted stock units when its non-market, non-financial performance criteria are certified as achieved by the Board.
Which performance milestone was achieved for Solid Biosciences (SLDB) in this Form 4?
The second performance milestone was determined by the Board to be met on January 29, 2026. This achievement unlocked the related portion of underlying restricted stock units, subject to the executive’s continued service through a specified future evaluation date for vesting.
How are the performance milestones structured for SLDB’s performance stock units?
There are four independent performance milestones, each tied to specific business objectives. Upon certification that a milestone is achieved, 25% of the target number of underlying restricted stock units is earned, using criteria that are explicitly described as non-market and non-financial in nature.