Vivani Medical (NASDAQ: VANI) grants COO options and performance RSUs

Rhea-AI Filing Summary

Vivani Medical, Inc. reported equity compensation for Chief Operations Officer Le Truc consisting of a stock option for 160,000 shares of common stock at an exercise price of $1.31 per share, expiring in 2036, and 80,000 performance-based RSUs tied to achieving a $3.15 share-price hurdle over a four-year term. The option has a 10-year term and vests 25% after one year, then monthly over 36 months, while the RSUs vest in three tranches based on this market condition and time-based anniversaries, subject to continued service.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Le Truc

Role Chief Operations Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock Option F1	160,000	$0.00	$0.00
Grant/Award	RSUs F2, F3	80,000	$0.00	$0.00

Holdings After Transaction: Common Stock Option — 160,000 shares (Direct); RSUs — 80,000 shares (Direct)

Footnotes (3)

1. F1. The stock options have a 10-year term and vest 25% at one-year and monthly thereafter for 36 months, subject to the Reporting Person's continued service through each applicable vesting date.
2. F2. Each restricted stock unit ("RSU") represents a contingent right to receive one share of Vivani common stock.
3. F3. The performance based RSUs shall vest in three stages: one-third when the stock price is at or above $3.15 for three consecutive trading days, another one-third one year after this date when the market condition is first achieved, and the final one-third one year after this second vesting date when the market condition is achieved, subject to the Reporting Person's continued service through each applicable vesting date. If the RSUs fail to be at or above $3.15 for three consecutive trading dates within a four year term from the date of the grant, the RSUs shall expire.

Key Figures

Stock options granted: 160,000 shares Option exercise price: $1.31 per share Option term: 10 years +3 more

6 metrics

Stock options granted 160,000 shares Common Stock Option granted to COO Le Truc on 2026-07-28

Option exercise price $1.31 per share Exercise price for the 160,000-share stock option

Option term 10 years Stock options have a 10-year term, expiring 2036-07-27

RSUs granted 80,000 units Performance-based RSUs granted to COO Le Truc on 2026-07-28

RSU price hurdle $3.15 per share RSUs vest when the stock price is at or above $3.15 for three consecutive trading days

RSU performance period 4 years If the $3.15 condition is not met within four years from grant, the RSUs expire

Key Terms

Restricted stock unit ("RSU"), performance based RSUs, market condition, 10-year term

4 terms

Restricted stock unit ("RSU") financial

"Each restricted stock unit ("RSU") represents a contingent right..."

performance based RSUs financial

"The performance based RSUs shall vest in three stages..."

market condition financial

"another one-third one year after this date when the market condition is first achieved"

10-year term financial

"The stock options have a 10-year term and vest 25% at one-year..."

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Available on EDGAR 07/30/2026 - 08:25 PM Accepted by SEC EDGAR 07/30/2026 - 08:25 PM Learn about SEC filing dates

FAQ

What equity awards did Vivani Medical (VANI) grant to COO Le Truc?

Vivani Medical granted COO Le Truc 160,000 stock options and 80,000 performance-based RSUs. The options are exercisable at $1.31 per share, and each RSU represents a contingent right to receive one share of Vivani common stock upon vesting.

What are the key terms of Le Truc’s 160,000 Vivani (VANI) stock options?

Le Truc’s option covers 160,000 Vivani shares at an exercise price of $1.31 per share. It has a 10-year term, expiring in 2036, and vests 25% after one year of service, then monthly over the following 36 months, contingent on continued employment.

How do Vivani Medical (VANI) performance-based RSUs granted to Le Truc vest?

The 80,000 performance-based RSUs vest in three stages. One-third vests when the stock trades at or above $3.15 for three consecutive days, another one-third vests one year later, and the final third one year after that, all requiring continued service at each vesting date.

What share-price condition applies to Vivani (VANI) RSUs for COO Le Truc?

The RSUs require Vivani’s share price to be at or above $3.15 for three consecutive trading days. This market condition must be satisfied within a four-year term from the grant date or the RSUs expire, limiting vesting to sustained price performance and continued service.

When do Le Truc’s Vivani Medical (VANI) RSUs and options expire if conditions are not met?

The stock options have a 10-year term and expire in 2036 if unexercised. The performance-based RSUs expire if the $3.15 share-price condition is not achieved for three consecutive trading days within four years from the grant date, preventing any vesting.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Le Truc

(Last) (First) (Middle)

C/O VIVANI MEDICAL, INC.

1350 S. LOOP ROAD

(Street)

ALAMEDA CALIFORNIA 94502

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Vivani Medical, Inc. [ VANI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operations Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/28/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock Option	$1.31	07/28/2026		A		160,000		(1)	07/27/2036(1)	Common Stock	160,000	$0	160,000	D
RSUs	(2)	07/28/2026		A		80,000		(3)	(3)	Common Stock	80,000	$0	80,000	D

Explanation of Responses:

1. The stock options have a 10-year term and vest 25% at one-year and monthly thereafter for 36 months, subject to the Reporting Person's continued service through each applicable vesting date.

2. Each restricted stock unit ("RSU") represents a contingent right to receive one share of Vivani common stock.

3. The performance based RSUs shall vest in three stages: one-third when the stock price is at or above $3.15 for three consecutive trading days, another one-third one year after this date when the market condition is first achieved, and the final one-third one year after this second vesting date when the market condition is achieved, subject to the Reporting Person's continued service through each applicable vesting date. If the RSUs fail to be at or above $3.15 for three consecutive trading dates within a four year term from the date of the grant, the RSUs shall expire.

Remarks:

Exhibit 24.1 Power of Attorney

	/s/ Adam Mendelsohn, Attorney-in-fact	07/30/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)