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v3.25.2

Insider Trading Arrangements | 3 Months Ended
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Jun. 30, 2025 shares
Trading Arrangements, by Individual |
Material Terms of Trading Arrangement | On May 8, 2025, Dr. Charles J. Homcy, a member of our Board of Directors, adopted a trading plan (the “Homcy Trading Plan”) intended to satisfy the affirmative defense conditions of Securities Exchange Act Rule 10b5-1(c) for the potential sale of a maximum of 300,000 shares of our common stock. Dr. Homcy is not permitted to transfer, sell or otherwise dispose of any shares under the Homcy Trading Plan until the Earliest Sell Date, which is the later of (i) the 91st day after the adoption date of the Homcy Trading Plan; or (ii) the earlier of: (a) the third business day following the disclosure of the Company’s financial results in a Form 10-Q or Form 10-K for the completed fiscal quarter in which the Homcy Trading Plan is adopted; or (b) the 121st day after the adoption date. The Homcy Trading Plan is expected to remain in effect until the earlier of (a) March 8, 2026; (b) the first date on which all trades have been executed or all trading orders relating to such trades set forth on Addendum A of the Homcy Trading Plan have expired; (c) as soon as practicable following the date on which Dr. Homcy gives written notice to Morgan Stanley Smith Barney LLC (“MSSB”) to terminate the Homcy Trading Plan; (d) as soon as practicable following the date on which MSSB receives written notice of a termination of an additional contract, instruction or plan that is being treated as a single “plan” with the Homcy Trading Plan (or MSSB receives written notice of a modification of such additional contract, instruction or plan and the requirements for a modification of the Homcy Trading Plan are not or cannot be satisfied); (e) as soon as practicable following the date on which MSSB receives written notice of a legal, regulatory or contractual restriction applicable to the Company or to Dr. Homcy that would result in a modification or change to the amount, price or timing of the sale of shares under the Homcy Trading Plan but the requirements for a modification of the Homcy Trading Plan are not or cannot be satisfied; and (f) as soon as practicable following the date on which MSSB receives notice of certain events, including the public announcement of a tender or exchange offer with respect to the Company’s common stock or that the Company is the target of a merger, acquisition, reorganization, recapitalization or comparable transaction as a result of which the Company’s common stock will be converted into shares of another company, or the commencement of bankruptcy or insolvency proceeding with respect to the Company. On June 27, 2025, Randal W. Scott, Ph.D., a member of our Board of Directors, adopted a trading plan (the “Scott Trading Plan”), intended to satisfy the affirmative defense conditions of Securities Exchange Act Rule 10b5-1(c). The Scott Trading Plan provides for the potential sale of a maximum of (i) 51,501 shares of our employee stock options held by Dr. Scott, and (ii) 100% of net vested shares of our RSUs to be issued to Dr. Scott upon vesting of his RSUs on June 20, 2026. On the date when the Scott Trading Plan was adopted, Dr. Scott held no such net vested shares. The aggregate number of net vested shares of common stock that will be available for sale by Dr. Scott is not yet determinable because the shares available will be net of shares to be withheld to satisfy tax obligations in connection with the vesting of his RSUs on the vesting date. Dr. Scott is not permitted to transfer, sell or otherwise dispose of any shares under the Scott Trading Plan until the later of (i) November 17, 2025, (ii) the 91st day after the adoption date of the Scott Trading Plan (i.e. September 26, 2025), or (iii) the earlier of: (a) the third business day following the disclosure of the Company’s financial results in a Form 10-Q or Form 10-K for the completed fiscal quarter in which the Scott Trading Plan is adopted (estimated August 7, 2025); or (b) the 121st day after the adoption date of the Scott Trading Plan (estimated October 26, 2025). The Scott Trading Plan is expected to remain in effect until the earlier of (a) August 31, 2026; (b) the completion of the sale of the maximum shares subject to the Scott Trading Plan.
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
Rule 10b5-1 Trading Plan [Member] | Randal W. Scott [Member] |
Trading Arrangements, by Individual |
Name | Randal W. Scott, Ph.D
Title | Board of Directors
Rule 10b5-1 Arrangement Adopted | true
Adoption Date | June 27, 2025
Arrangement Duration | 430 days
Aggregate Available | 51,501
Rule 10b5-1 Trading Plan [Member] | Dr. Charles J. Homcy [Member] |
Trading Arrangements, by Individual |
Name | Dr. Charles J. Homcy
Title | Board of Directors
Rule 10b5-1 Arrangement Adopted | true
Adoption Date | May 8, 2025
Arrangement Duration | 304 days
Aggregate Available | 300,000

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