David Arkowitz - 14 Feb 2024 Form 4 Insider Report for Seres Therapeutics, Inc. (MCRB)

Role
Chief Financial Officer
Signature
/s/ Thomas J. DesRosier, attorney-in-fact for David Arkowitz
Issuer symbol
MCRB
Transactions as of
14 Feb 2024
Net transactions value
-$4,254
Form type
4
Filing time
16 Feb 2024, 21:13:51 UTC
Previous filing
31 Oct 2023
Next filing
05 Sep 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MCRB Common Stock Options Exercise +10,625 +6% 186,381 15 Feb 2024 Direct F1
transaction MCRB Common Stock Sale $4,254 -3,939 -2.1% $1.08 182,442 16 Feb 2024 Direct F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MCRB Stock Option (Right to Buy) Award $0 +213,750 $0.000000 213,750 14 Feb 2024 Common Stock 213,750 $1.10 Direct F4
transaction MCRB Stock Option (Right to Buy) Award $0 +287,905 $0.000000 287,905 14 Feb 2024 Common Stock 287,905 $1.10 Direct F5
transaction MCRB Restricted Stock Units Award $0 +35,625 $0.000000 35,625 14 Feb 2024 Common Stock 35,625 Direct F1, F6
transaction MCRB Restricted Stock Units Options Exercise $0 -10,625 -25% $0.000000 31,875 15 Feb 2024 Common Stock 10,625 Direct F1, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of Issuer common stock.
F2 The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 instruction adopted by the reporting person on March 2, 2023, solely with the intent to cover taxes in connection with the vesting of the restricted stock units.
F3 The price reported in column 4 is a weighted average of the price. These shares were sold in multiple transactions at prices ranging from $1.08 to $1.115, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4 The option will vest as to 25% of the shares on February 14, 2025. The remainder of the shares will vest in 12 equal quarterly installments thereafter.
F5 The option will vest, if at all, in two substantially equal installments upon achievement of a 30-day trailing average public market closing price per share of the Issuer's common stock greater than or equal to $3.00 and $5.00, respectively.
F6 The restricted stock units will vest and settle as to 25% of the restricted stock units on February 15, 2025. The remainder of the restricted stock units will vest and settle in 12 equal quarterly installments thereafter. The restricted stock units have no expiration date.
F7 The restricted stock units vested and settled as to 25% of the restricted stock units on February 15, 2024. The remainder of the restricted stock units will vest and settle in 12 equal quarterly installments thereafter. The restricted stock units have no expiration date.