Precigen (PGEN) CCO Phil Tennant Exercises Options, Sells Shares

What Happened

• Phil Tennant, Chief Commercial Officer of Precigen (PGEN), exercised stock options and immediately sold the resulting shares. On Aug 25, 2026 he exercised 79,166 options at $1.61 per share (cost $127,457) and sold those 79,166 shares in an open-market/10b5-1 sale for $7.50 each, producing gross proceeds of $593,745.
• Separately, on Aug 23, 2026, 5,208 restricted stock units (RSUs) vested (1/24 tranche of the June 26, 2025 RSU grant). To cover tax withholding, 2,585 of those RSU shares were withheld/sold for $7.20 each, totaling $18,612.

Key Details

• Transaction dates & prices:
  • 2026-08-23: 5,208 RSUs vested; 2,585 shares withheld/sold for tax at $7.20 (proceeds $18,612).
  • 2026-08-25: Exercise of 79,166 options at $1.61 (exercise cost $127,457) and sale of 79,166 shares at $7.50 (gross proceeds $593,745).
• Sales were executed pursuant to a 10b5-1 plan (footnote F3).
• RSU tax withholding: issuer withheld 2,585 shares to satisfy income tax obligations (footnotes F1, F2, F4).
• Option vesting: options vested 25% on July 22, 2025 with monthly installments over the following three years (footnote F5).
• Filing: Reported on Aug 25, 2026 for transactions on Aug 23 and Aug 25 — filed within the typical two-business-day Form 4 window (timely).

Context

• This was effectively a cashless exercise: options were exercised and the shares were sold the same day, so proceeds reflect the sale of newly issued shares after paying the exercise price.
• The RSU activity reflects normal vesting and tax-withholding mechanics and is not a market directional gift or transfer.
• Sales executed under a 10b5-1 plan indicate the trades were pre-planned rather than ad hoc market-timing decisions.