Zymeworks (NASDAQ: ZYME) awards options, RSUs and PSUs to EVP
Rhea-AI Filing Summary
Zymeworks Inc. granted equity-based compensation to EVP and Chief Business Officer Scott Platshon. He received stock options for 70,000 shares of common stock at an exercise price of $27.35 per share, expiring on April 8, 2036, which vest 25% after one year and monthly thereafter.
Platshon was also granted 47,000 restricted stock units that vest in four equal annual installments, each RSU delivering one share of common stock upon vesting. In addition, he received 76,000 performance stock units, representing the maximum number that may be earned based on cumulative total shareholder return goals over a three-year performance period ending on January 12, 2029, with 50%–200% of a 38,000-unit target earnable depending on performance.
Positive
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Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Platshon Scott
Role
EVP, Chief Business Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (Right to Buy) | 70,000 | $0.00 | $0.00 |
| Grant/Award | Restricted Stock Unit | 47,000 | $0.00 | $0.00 |
| Grant/Award | Performance Stock Unit | 76,000 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Option (Right to Buy) — 70,000 shares (Direct);
Restricted Stock Unit — 47,000 shares (Direct);
Performance Stock Unit — 76,000 shares (Direct)
Footnotes (5)
- F1. 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.
- F2. Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's common stock.
- F3. RSUs vest in four equal annual installments beginning on first anniversary of grant date.
- F4. 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 38,000 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.
- F5. (Continued from footnote 4) 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).
Key Figures
Stock options granted: 70,000 options
Option exercise price: $27.35 per share
Option expiration: April 8, 2036
+4 more
7 metrics
Stock options granted
70,000 options
Grant on April 9, 2026 to EVP Chief Business Officer
Option exercise price
$27.35 per share
Exercise price for 70,000 stock options
Option expiration
April 8, 2036
Expiration date of stock option grant
Restricted stock units granted
47,000 RSUs
RSU award vesting in four equal annual installments
Maximum performance stock units
76,000 PSUs
Maximum PSUs earnable based on three-year TSR goals
PSU target amount
38,000 PSUs
Target number with 50%–200% earnable based on TSR
PSU performance period end
January 12, 2029
End of three-year TSR performance period
Key Terms
Restricted Stock Unit, Performance Stock Unit, total shareholder return, Nasdaq Biotech Index, +1 more
5 terms
Restricted Stock Unit financial
"Each restricted stock unit ("RSU") represents the contingent right to receive..."
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
Performance Stock Unit financial
"Each performance restricted stock unit ("PSU") represents a contingent right..."
A performance stock unit is a type of reward companies give to employees, usually managers, that depends on how well the company performs over time. If the company hits specific goals, the employee earns shares of stock, like earning a prize for reaching certain levels in a game. It motivates employees to work hard because their rewards are tied to the company's success.
Nasdaq Biotech Index financial
"if the Company's TSR for the performance period equals or exceeds a prespecified percentile for the Nasdaq Biotech Index."
A Nasdaq biotech index is a stock market benchmark that tracks the performance of biotech and pharmaceutical companies listed on the Nasdaq exchange. Think of it as a thermometer for the biotech sector: it gives investors a single number showing how the group is doing, helps compare a company or fund against the sector, and guides decisions about sector exposure, risk and diversification because biotech stocks often move together and can be more volatile than the broader market.
change of control financial
"except in certain limited cases (such as if service...or in case of a change of control)."
A change of control occurs when the ownership or management of a company shifts significantly, such as through a sale, merger, or acquisition, resulting in new leadership or ownership structure. This change can impact the company's direction and decision-making, which is important for investors because it may affect the company's stability, strategy, and future prospects.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What equity awards did ZYME executive Scott Platshon receive?
Scott Platshon received stock options, restricted stock units, and performance stock units as compensation. The awards cover 70,000 stock options, 47,000 RSUs, and a maximum of 76,000 PSUs tied to performance goals, all linked to Zymeworks common stock.
How do Scott Platshon’s new ZYME stock options vest and when do they expire?
Platshon’s 70,000 Zymeworks stock options vest 25% on the first anniversary of the grant date, with the remaining shares vesting in 36 equal monthly installments. These options carry a $27.35 exercise price and expire on April 8, 2036, if not exercised earlier.
What are the vesting terms for Scott Platshon’s ZYME restricted stock units?
Platshon’s 47,000 restricted stock units vest in four equal annual installments beginning on the first anniversary of the grant date. Each vested RSU converts into one share of Zymeworks common stock, providing time-based equity compensation tied to continued service with the company.
How are Scott Platshon’s ZYME performance stock units earned?
Platshon’s 76,000 performance stock units represent the maximum earnable based on cumulative total shareholder return goals over a three-year period ending January 12, 2029. Between 50% and 200% of a 38,000-unit target may vest depending on Zymeworks’ TSR performance against specified benchmarks.
What performance period applies to ZYME’s performance stock units granted to Scott Platshon?
The performance stock units use a three-year performance period ending January 12, 2029. Vesting depends on achieving cumulative total shareholder return targets, including relative TSR versus the Nasdaq Biotech Index, with final vesting only after board certification of results, subject to continued service.
How is Zymeworks’ Nasdaq Biotech Index performance used in Platshon’s PSU award?
The PSU award allows 50% of the 38,000-unit target to be earned if Zymeworks’ total shareholder return meets or exceeds a prespecified percentile of the Nasdaq Biotech Index. This relative TSR test helps link Platshon’s equity payout to Zymeworks’ stock performance versus biotech peers.