CRISPR Therapeutics CMO Naimish Patel Receives Awards

What Happened
Naimish Patel, Chief Medical Officer of CRISPR Therapeutics (CRSP), was granted two equity awards on March 20, 2026: a stock option covering 38,499 common shares and restricted stock units (RSUs) for 30,000 common shares. Both grants were reported as awards (code A) with a reported acquisition price of $0.00 (no cash paid at grant). Total potential shares from the awards: 68,499.

Key Details

• Transaction date: March 20, 2026 (Form 4 filed March 24, 2026 — filing was within the SEC’s 2-business-day window).
• Award breakdown: 38,499-share option (vests monthly in 48 equal installments; first vesting 4/20/2026); 30,000 RSUs (25% vest on each of 3/20/2027, 3/20/2028, 3/20/2029, 3/20/2030).
• Price/value reported: $0.00 per share at grant (no cash exchanged at grant).
• Lock-up: These shares remain subject to a lock-up agreement with the underwriters of the issuer’s offering of convertible senior notes due 2031.
• Shares owned after transaction: not specified in the provided filing details.
• Transaction code: A = Award/Grant (derivative awards: option and RSUs).

Context
These are standard compensation grants for an executive rather than open‑market purchases or sales. The option vests monthly over four years (after first monthly vest on 4/20/2026), and RSUs vest in four annual tranches. RSUs represent a contingent right to receive one share each upon vesting. Because the awards are subject to a lock-up tied to the convertible notes offering, Patel may be restricted from selling some granted shares until that lock-up expires.