Zymewworks Inc. (ZYME) CEO logs RSU vesting, option and PSU grants
Rhea-AI Filing Summary
Zymeworks Inc. Chair and CEO Kenneth Galbraith reported equity award activity and a tax-related share sale. On January 12, 2026, 64,000 restricted stock units vested and were settled into common shares at $0.00, and 30,424 common shares were sold at a weighted average price of $22.6735 solely to cover tax withholding and fees under mandatory “sell to cover” provisions. After these transactions, he directly held 226,842 common shares.
On the same date, he received new equity awards: a stock option for 216,000 shares at an exercise price of $23.16 expiring on January 11, 2036, which vests 25% after one year and monthly thereafter; a new RSU grant of 144,000 shares vesting in four equal annual installments; and performance stock units covering up to 222,000 shares tied to total shareholder return goals over a three-year period ending January 12, 2029, with 50%–200% of a 111,000-target range potentially earned.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 64,000 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 216,000 | $0.00 | -- |
| Grant/Award | Restricted Stock Unit | 144,000 | $0.00 | -- |
| Grant/Award | Performance Stock Unit | 222,000 | $0.00 | -- |
| Exercise | Common Stock | 64,000 | $0.00 | -- |
| Sale | Common Stock | 30,424 | $22.6735 | $690K |
Footnotes (1)
- Represents shares of common stock issued upon vesting of one third of the restricted stock units ("RSUs") granted on January 10, 2025. Represents shares of common stock sold to cover tax withholding obligations and other applicable fees in connection with the vesting of RSUs pursuant to mandatory "sell to cover" provisions contained in the Reporting Person's applicable RSU grant agreement, and does not represent a discretionary sale by the Reporting Person. The Reporting Person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than to cover required taxes and fees. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $22.49 to $23.05, inclusive. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price. Each RSU represents the contingent right to receive, upon vesting of the RSU, one share of common stock. The RSUs were granted on January 10, 2025 and vest in three equal annual installments beginning on the first anniversary of grant date. 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. RSUs vest in four equal annual installments beginning on first anniversary of grant date. Each performance restricted stock unit ("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 111,000 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. 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, (Continued from footnote 8) 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).
FAQ
What insider transactions did Zymeworks (ZYME) report for January 12, 2026?
The filing shows that Kenneth Galbraith, Chair and CEO of Zymeworks Inc., reported the vesting of 64,000 restricted stock units into common stock and the sale of 30,424 common shares on January 12, 2026, along with several new equity awards.
What new stock option grant did the Zymeworks CEO receive?
He received a stock option for 216,000 shares of common stock with an exercise price of $23.16 per share, expiring on January 11, 2036. The option vests 25% of the underlying shares on the first anniversary of the grant date, with the remaining shares vesting in 36 equal monthly installments thereafter.
What restricted stock unit awards were granted to the Zymeworks CEO?
The filing reports a new grant of 144,000 restricted stock units (RSUs), each representing the right to receive one share of common stock upon vesting. These RSUs vest in four equal annual installments beginning on the first anniversary of the grant date.
How do the performance stock units (PSUs) for Zymeworks’ CEO work?
The CEO received performance stock units covering up to 222,000 shares of common stock. This represents the maximum number of PSUs that may be earned based on cumulative total shareholder return (TSR) goals over a three-year performance period ending January 12, 2029. Between 50% and 200% of a 111,000 target PSU amount can be earned depending on TSR performance, and vesting generally requires continued service through the end of the performance period.
Did the Zymeworks CEO exercise any RSUs into common stock in this filing?
Yes. The filing indicates that 64,000 restricted stock units were converted into shares of Zymeworks common stock at $0.00, representing the vesting of one third of RSUs that were originally granted on January 10, 2025.