Schayowitz Adam 4
4 · Zymeworks Inc. · Filed Apr 10, 2026
Research Summary
AI-generated summary of this filing
Zymeworks (ZYME) EVP Adam Schayowitz Receives Awards
What Happened
Adam Schayowitz, EVP and Head of Research & Development at Zymeworks (ZYME), received three equity awards on April 9, 2026: 70,000 stock options, 47,000 restricted stock units (RSUs), and 76,000 performance restricted stock units (PSUs). Each award was reported at $0.00 per share (award/grant), so there was no immediate cash paid or proceeds. The 76,000 PSUs represent the maximum possible payout (200% of a 38,000 target) contingent on meeting specified total shareholder return (TSR) goals.
Key Details
- Transaction date: April 9, 2026 (filed Apr 10, 2026) — filing appears timely.
- Awards and reported amounts: 70,000 (stock options), 47,000 (RSUs), 76,000 (PSUs — maximum potential). All reported at $0.00 (awarded).
- Vesting / payout mechanics:
- Stock options: 25% vest on first anniversary, then remaining shares vest in 36 equal monthly installments (see F1).
- RSUs: vest in four equal annual installments beginning on the first anniversary (see F2, F3).
- PSUs: payout is performance-based over a three-year TSR performance period ending Jan 12, 2029; payout ranges from 50% to 200% of the 38,000 target (76,000 max). PSUs generally vest only at the end of the performance period and subject to continued service, with limited exceptions (see F4, F5).
- Shares owned after transaction: not specified in the provided excerpt.
- Transaction code: A = award/grant (derivative awards), not a market buy or sale.
Context
These were grants of derivative awards, not open-market purchases or sales. Stock options give the right to buy shares subject to vesting; RSUs convert to shares as they vest; PSUs pay out only if performance targets are met over the performance period. There was no immediate cash outflow or inflow for the insider. Awards like these are common compensation tools and do not by themselves indicate the insider’s view of near-term stock performance.
Insider Transaction Report
- Award
Stock Option (Right to Buy)
[F1]2026-04-09+70,000→ 70,000 totalExercise: $27.35Exp: 2036-04-08→ Common Stock (70,000 underlying) - Award
Restricted Stock Unit
[F2][F3]2026-04-09+47,000→ 47,000 total→ Common Stock (47,000 underlying) - Award
Performance Stock Unit
[F4][F5]2026-04-09+76,000→ 76,000 total→ Common Stock (76,000 underlying)
Footnotes (5)
- [F1]Stock options vest as follows: (i) 25% of underlying shares of common stock on first anniversary of grant date and (ii) remainder of underlying shares of common stock in 36 equal monthly installments on last day of month following first anniversary of grant date.
- [F2]Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's common stock.
- [F3]RSUs vest in four equal annual installments beginning on first anniversary of grant date.
- [F4]Each performance restricted stock unit ("PSU") represents a contingent right to receive one share of common stock. The amount reported is the maximum number of PSUs that may be earned upon achievement of certain cumulative total shareholder return ("TSR") goals over a three-year performance period ending on January 12, 2029 (or in some cases at earlier times). Between 50% and 200% of the target number of 38,000 PSUs ("Target Number") may be earned upon achievement of such TSR goals. 50% of the Target Number may be earned upon achievement of relative TSR goals if the Company's TSR for the performance period equals or exceeds a prespecified percentile for the Nasdaq Biotech Index.
- [F5](Continued from footnote 1) The PSUs will only vest at the end of the three-year performance period if the Reporting Person's service to the Company continues through such time that the board of directors of the Company certifies the achievement of TSR goals, except in certain limited cases (such as if service to the Company is terminated by the Company without cause or in case of a change of control).