ORLOFF JOHN J 4

What Happened John J. Orloff, a director of Zenas BioPharma, was granted a derivative award for 18,500 shares on June 15, 2026. The reported acquisition price is $0.00, so the Form 4 shows a total reported value of $0. This was an award/compensatory grant (transaction code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-06-15; Form 4 filed: 2026-06-17 (appears timely, within the usual two-business-day filing window).
• Instrument: Derivative award; shares reported: 18,500; acquisition price: $0.00; total reported value: $0.
• Vesting: Per footnote F1, the award vests 100% on June 15, 2027 (one-year cliff), subject to continued service.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing type/code: Form 4, transaction code A = award/grant.

Context This filing documents a compensatory grant to a director that will convert into vested shares if Orloff remains in service through the one-year vesting date. Awards priced at $0.00 on Form 4 typically reflect compensatory derivative grants (e.g., stock options or RSUs reported as derivatives) rather than cash purchases; they do not represent an immediate market buy or sale. For retail investors, such routine director awards signal compensation alignment with the company but are not direct evidence of insider buying or selling intent.