Farmer Joseph L 4

What Happened Joseph L. Farmer, President and Chief Operating Officer of Zenas BioPharma (ZBIO), made two reported insider transactions. On 2026-02-05 he purchased 974 shares through the company's 2024 Employee Stock Purchase Plan for $13.35 each (total $13,003). On 2026-06-15 he was granted a derivative award covering 175,000 shares (reported at $0), consistent with an equity option/award.

Key Details

• Transaction dates: 2026-02-05 (ESPP purchase) and 2026-06-15 (derivative grant).
• Purchase: 974 shares at $13.35 each, total cost $13,003 (ESPP, exempt under Rule 16b-3(c)).
• Grant: 175,000-share derivative award reported at $0.00 (typical for option grants); no immediate cash paid.
• Vesting: The award vests 25% on 6/15/2027, then in equal monthly installments over the next 36 months, subject to continued service (per footnote).
• Shares owned after the transactions: not disclosed in the provided summary.
• Filing: Form 4 filed 2026-06-17 for a 6/15/26 grant; filing appears timely (Form 4 must be filed within two business days).

Context

• The 974-share ESPP purchase is a direct buy of company stock by the insider (a straightforward personal investment).
• The 175,000-share entry is a time‑based equity award (option-style vesting); it does not indicate an immediate sale or cashless exercise.
• These are routine insider equity transactions for compensation and employee purchase programs and should be viewed as disclosures of compensation and personal investment rather than definitive market signals.