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Insider Trading Arrangements | 3 Months Ended
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Jun. 30, 2024 shares
Trading Arrangements, by Individual |
Material Terms of Trading Arrangement | (c) During the three months ended June 30, 2024, no director or officer (as defined in Rule 16a-1(f) of the Securities Exchange Act of 1934 (the “Exchange Act”)) of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K, except as follows: On May 7, 2024, Michael S. Cuffe, M.D., the Company’s Executive Vice President and Chief Clinical Officer, adopted a “Rule 10b5-1 trading arrangement” as defined in Item 408(a) of Regulation S-K. Dr. Cuffe’s Rule 10b5-1 trading arrangement, which is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act, provides for the potential exercise, subject to minimum market prices, of up to 22,080 vested stock appreciation rights (“SARs”) and the associated sale of shares of our common stock obtained upon exercise of such SARs, in each case between September 10, 2024 and September 10, 2025. The actual number of shares of our common stock that will be received by Dr. Cuffe in connection with the exercise of such SARs and sold pursuant to Dr. Cuffe’s Rule 10b5-1 trading arrangement is not yet determinable as (1) such number will be based on the difference between the share price of our common stock and the SAR exercise price on the date of exercise and (2) such number will be further reduced by shares withheld by the Company to cover the cost of taxes due upon exercise.
Rule 10b5-1 Arrangement Adopted | false
Non-Rule 10b5-1 Arrangement Adopted | false
Rule 10b5-1 Arrangement Terminated | false
Non-Rule 10b5-1 Arrangement Terminated | false
Michael S Cuffe [Member] |
Trading Arrangements, by Individual |
Name | Michael S. Cuffe
Title | Executive Vice President and Chief Clinical Officer
Rule 10b5-1 Arrangement Adopted | true
Adoption Date | May 7, 2024
Arrangement Duration | 365 days
Aggregate Available | 22,080

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