Tennant Phil 4

What Happened
Phil Tennant, Chief Commercial Officer of Precigen (PGEN), had 62,500 restricted stock units (RSUs) vest on May 23, 2026. Those RSUs were converted into 62,500 shares of common stock (reported as an exercise/conversion of a derivative). The filing also shows 62,500 shares were disposed of at $0.00 immediately thereafter, which reflects shares surrendered to the company for tax withholding rather than a cash sale. Net effect: no new shares retained from this vesting event.

Key Details

• Transaction date: May 23, 2026; Form 4 filed May 27, 2026 (filed on time).
• Reported transactions: +62,500 shares acquired via conversion (derivative, code M) and 62,500 shares disposed at $0.00 (withholding).
• Reported price/value: $0.00 shown for the disposition (withholding), no cash purchase or open-market sale recorded.
• Net shares received: 0 (62,500 acquired and 62,500 withheld).
• Footnotes:
  • F1: Each RSU represents a contingent right to one share.
  • F2: The 62,500 shares represent 50% of the RSUs granted June 26, 2025 that vested on May 23, 2026; remaining RSUs vest in equal quarterly installments over the next three years.
• Shares owned after the transaction: not specified in the filing.

Context
This was a standard vesting/conversion of RSUs, not a market purchase or sale. The disposal at $0.00 is consistent with shares withheld to satisfy tax withholding obligations and does not indicate a market sale or change in view on the company. Vesting of awards is common compensation; retail investors often watch purchases more closely than routine vesting events for signals about insider conviction.