Li Yang 4

What Happened Li Yang, Executive Vice President, Research at Surrozen, was granted equity awards on February 17, 2026. The filing shows two awards of 100,950 shares each (totaling 201,900): one option-style award and one set of restricted stock units (RSUs). Both awards were recorded at $0.00 at grant (no cash paid by Li Yang at the time). These are grants, not open-market purchases or sales.

Key Details

• Transaction date: February 17, 2026; Form 4 filed February 18, 2026 (appears timely).
• Awards: 100,950 option-type shares (footnote F1) and 100,950 RSUs (footnotes F2, F3); combined potential = 201,900 shares.
• Grant price/value at reporting: $0.00 for each award (typical for grants/RSUs at issuance).
• Vesting: Options vest in 48 equal monthly installments over four years starting Feb 1, 2026 (F1). RSUs vest in four equal annual installments beginning Feb 1, 2026 (F3). Each RSU converts to one share if and when vested (F2).
• Shares owned after transaction: not specified in the provided filing.
• Transaction code: "A" (award/grant). No 10b5-1 plan, tax-withholding, or late-filing flags noted in the report.

Context This filing records grant of long-term incentive awards rather than a purchase or sale. Grants are common for executives as compensation and typically vest over time to align incentives with company performance and retention. The options will only result in actual stock if vested and exercised; RSUs convert to shares only upon vesting. These events do not, by themselves, indicate a buying or selling signal.