Friedman David Matthew 4

What Happened
David Friedman, a director of Benitec Biopharma (BNTC), was granted an award of 35,000 options to acquire common stock on May 26, 2026. The grant is reported as a derivative award at a $0.00 acquisition price (no cash paid at grant). This is an equity compensation grant to a director rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-26; Form 4 filed 2026-05-28 (timely filing).
• Grant: 35,000 stock options; reported acquisition price $0.00 (derivative award).
• Vesting: Options vest in full on the earlier of immediately prior to the issuer’s next annual meeting or May 26, 2027.
• Shares owned after transaction: Not specified in the Form 4.
• Footnote disclosure: Mr. Friedman, as Managing Director of Suvretta Capital (investment manager of Averill Master Fund, Ltd. and Averill Madison Master Fund, Ltd.), is holding these options for the benefit of those funds and disclaims beneficial ownership; Suvretta/the Funds may have an indirect pecuniary interest due to entitlements to director compensation.

Context

• This was a grant of options (derivative award), not an exercise or sale. No immediate cash was required and no shares were sold.
• For retail investors: director grants are routine compensation for board service; because the options are held for the benefit of investment funds (not Friedman personally), the economic interest rests with those funds rather than the individual director.