Zymeworks Inc. (ZYME) CMO reports options, RSUs and PSUs on Form 3

Rhea-AI Filing Summary

Zymeworks Inc. insider holdings: SVP & Chief Medical Officer Mekan Sabeen filed an initial ownership report showing no directly owned common shares. Instead, the filing lists equity awards in the form of options and stock units.

Sabeen holds stock options for 192,000 common shares at an exercise price of $11.75 per share, expiring on April 20, 2035, from a grant on April 21, 2025, and options for 29,000 shares at $23.16 per share, expiring on January 11, 2036, from a grant on January 12, 2026. The filing also reports 19,000 restricted stock units that vest in four equal annual installments starting on the first anniversary of the January 12, 2026 grant.

In addition, Sabeen has performance stock units tied to total shareholder return goals, with a maximum of 32,000 shares potentially deliverable over a three-year performance period ending January 12, 2029. These PSUs can pay out at 50% to 200% of a 16,000-share target based on TSR performance and continued service.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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

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1. Name and Address of Reporting Person^*

Mekan Sabeen

(Last) (First) (Middle)

C/O ZYMEWORKS INC.

108 PATRIOT DRIVE, SUITE A

(Street)

MIDDLETOWN DE 19709

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/01/2026

3. Issuer Name and Ticker or Trading Symbol
Zymeworks Inc. [ ZYME ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP & Chief Medical Officer

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

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

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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
No securities are beneficially owned	0	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	(1)(2)	04/20/2035	Common Stock	192,000	$11.75	D
Stock Option (Right to Buy)	(2)(3)	01/11/2036	Common Stock	29,000	$23.16	D
Restricted Stock Unit	(4)	(4)	Common Stock	19,000	(5)	D
Performance Stock Unit	(6)(7)	(6)(7)	Common Stock	32,000	(6)(7)	D

Explanation of Responses:

1. Stock option granted April 21, 2025.

2. Stock options vest as follows: (i) 25% of underlying shares of common stock on first anniversary of grant date and (ii) remainder of underlying shares of common stock in 36 equal monthly installments on last day of month following first anniversary of grant date.

3. Stock option granted January 12, 2026.

4. Restricted stock units ("RSUs") granted January 12, 2026. RSUs vest in four equal annual installments beginning on first anniversary of grant date.

5. Each RSU represents the contingent right to receive, upon vesting of the RSU, one share of common stock.

6. Performance restricted stock units ("PSUs") granted January 12, 2026. Each PSU represents a contingent right to receive one share of common stock. The amount reported is the maximum number of PSUs that may be earned upon achievement of certain cumulative total shareholder return ("TSR") goals over a three-year performance period ending on January 12, 2029 (or in some cases at earlier times). Between 50% and 200% of the target number of 16,000 PSUs ("Target Number") may be earned upon achievement of such TSR goals. 50% of the Target Number may be earned upon achievement of relative TSR goals if the Company's TSR for the performance period equals or exceeds a prespecified percentile for the Nasdaq Biotech Index.

7. (Continued from footnote 6) The PSUs will only vest at the end of the three-year performance period if the Reporting Person's service to the Company continues through such time that the board of directors of the Company certifies the achievement of TSR goals, except in certain limited cases (such as if service to the Company is terminated by the Company without cause or in case of a change of control).

Remarks:

Exhibit List - Exhibit 24 - Power of Attorney

	/s/ Catherine Graham, Attorney-in-Fact	02/02/2026
	** 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 5 (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.

FAQ

What does the ZYME Form 3 filing show for Mekan Sabeen?

The Form 3 shows Mekan Sabeen’s initial equity holdings as SVP & Chief Medical Officer of Zymeworks Inc., including stock options, restricted stock units, and performance stock units, but no directly owned common shares reported as of the stated event date.

How many Zymeworks (ZYME) stock options does Mekan Sabeen hold?

Mekan Sabeen holds stock options on 221,000 Zymeworks shares, consisting of 192,000 options at $11.75 per share expiring April 20, 2035, and 29,000 options at $23.16 per share expiring January 11, 2036, all reported as directly owned.

What restricted stock units are reported for Mekan Sabeen at Zymeworks (ZYME)?

The filing reports 19,000 restricted stock units (RSUs) granted on January 12, 2026. These RSUs vest in four equal annual installments, beginning on the first anniversary of the grant date, with each vested unit delivering one share of Zymeworks common stock.

How do Mekan Sabeen’s performance stock units at Zymeworks (ZYME) work?

Sabeen’s performance stock units (PSUs) are tied to total shareholder return over a three-year period ending January 12, 2029. Between 50% and 200% of a 16,000-share target, up to a 32,000-share maximum, may be earned if TSR goals and service conditions are met.

Does Mekan Sabeen directly own any Zymeworks (ZYME) common shares?

The Form 3 states that no non-derivative securities are beneficially owned, listing zero directly owned common shares. All reported interests are derivative securities, including stock options, restricted stock units, and performance-based stock units held directly.

What service conditions apply to Mekan Sabeen’s Zymeworks PSUs?

The PSUs vest only after the three-year performance period if the board certifies total shareholder return goal achievement and Sabeen’s service continues through that time, except in limited situations such as termination without cause or a change of control event.