Cannon Gillian 4

What Happened

• Gillian Cannon, a director of Xenon Pharmaceuticals (XENE), had 2,645 restricted share units (RSUs) vest and convert into common shares on June 1, 2026. The filing also shows two RSU grants on June 3, 2026 totaling 12,100 RSUs (10,507 + 1,593). All reported transactions show $0 cash price — these are equity awards/settlements, not open‑market purchases or sales.

Key Details

• Transaction dates and amounts:
  • 2026-06-01: Conversion/settlement of 2,645 RSUs (reported under derivative code M). An entry also shows 2,645 shares reported as disposed at $0 (derivative reporting detail).
  • 2026-06-03: Grants/awards of 10,507 RSUs and 1,593 RSUs (both reported at $0).
• Prices/values: all entries reported at $0 (these are compensation awards/settlements). Market value of shares at vesting/grant is not reported on the Form 4.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes:
  • F1: The 2,645 shares represent RSUs granted June 5, 2025 that vested 100% on June 1, 2026.
  • F2/F3: The 10,507 and 1,593 RSUs vest 100% on the earlier of (i) June 1, 2027 or (ii) the day before the 2027 annual meeting; each RSU converts to one common share when vested.
• Filing timeliness: Form 4 was filed on 2026-06-03 reporting transactions on 2026-06-01 and 2026-06-03 — this appears to be within the usual 2‑business‑day filing window (timely).

Context

• These entries reflect executive compensation mechanics (RSU vesting/conversion and new RSU grants), not open‑market buying or selling. Such awards are common for directors and do not by themselves signal a purchase motivated by view of the stock; they increase the director’s stake only when RSUs convert to shares at vesting.
• The “M” and derivative entries in Form 4 indicate conversion/settlement of RSUs (a derivative) rather than an option exercise for cash. The $0 disposals likely reflect how the grant/settlement is reported on the form and are not reported cash sales to a third party.