FOWLER JOHN D JR 4

What Happened

• John D. Fowler Jr., a member of the Emergent BioSolutions (EBS) board of directors, was granted two types of equity awards on April 30, 2026: 25,344 restricted stock units (RSUs) and 11,296 stock options. Both were reported as awards (Form 4 code "A") with a grant price of $0.00 (i.e., no cash paid at grant). The reported dollar value at grant is $0 on the Form 4 (these are compensatory grants, not open-market purchases).

Key Details

• Transaction date: 2026-04-30 (reported on Form 4 filed 2026-05-04). Both items coded as "A" (award/grant).
• RSUs: 25,344 units; each RSU converts to one share upon vesting. Stock options: 11,296 options (derivative instrument).
• Vesting: Both the RSUs and the options vest on the day before the one-year anniversary of the grant (Annual Grant Vesting Date), conditional on Fowler remaining a board member through that date (see footnotes F1 and F2).
• Grant economics note: The option grant size was determined using a formula that converts 25% of the non-employee director compensation value into a number of options using the Black‑Scholes option value at grant (footnote F3). The Form 4 excerpt does not list an exercise price for the options.
• Shares owned after the transaction are not disclosed in the provided excerpt.
• Filing timeliness: The Form 4 was filed on 2026-05-04 for the 2026-04-30 grants; this appears to be a timely filing (Form 4 is generally due within two business days).

Context

• RSUs are a promise to issue shares upon vesting (no exercise required); stock options give the right to purchase shares at a set exercise price after vesting. Neither award involved an immediate cash purchase or sale of shares.
• These awards are routine director compensation and do not by themselves indicate buying or selling sentiment. They do increase potential future share dilution if exercised or settled in stock.