Svoronos Dawn 4

What Happened
Dawn Svoronos, a director of Xenon Pharmaceuticals (XENE), had a prior RSU award (granted 6/5/2025) vest 100% on June 1, 2026, converting into 2,645 common shares. To satisfy income tax withholding on that vesting, the issuer withheld 1,416 shares (valued at the June 1 closing price of $53.41, ≈ $75,629). On June 3, 2026 the company granted the reporting person two RSU awards totaling 12,100 RSUs (10,507 and 1,593 RSUs) that vest 100% on the earlier of June 1, 2027 or the day before the 2027 annual meeting.

Key Details

• Transaction dates: vesting/settlement on 2026-06-01; new RSU grants on 2026-06-03. Filing date: 2026-06-03 (appears timely).
• Vesting: 2,645 shares vested on 6/1/2026; 1,416 of those were withheld for taxes (net delivered shares = 1,229). Withheld-share value reported at $53.41/share → ~$75,629.
• New awards: 10,507 RSUs and 1,593 RSUs granted on 6/3/2026 (total 12,100 RSUs); each RSU converts to one share and vests 100% by June 1, 2027 (or before the 2027 annual meeting).
• Footnotes: withholding represents tax remittance in a net settlement and is not a sale. RSU grants are derivative awards (contingent right to shares).
• Shares owned after the transactions: not specified in the provided filing excerpt.

Context
This activity is primarily administrative: an RSU award vested and was net-settled for tax withholding (common practice), and new RSUs were granted with a one-year vesting horizon. The withholding of shares to cover taxes does not indicate an open-market sale. New RSU grants are future-compensation awards and do not represent an immediate purchase or sale of stock.