Berenson Stephen 4

What Happened
Stephen Berenson, a director of Seres Therapeutics (ticker: MCRB), was granted a derivative award of 7,508 units on July 1, 2026. The filing reports the acquisition as a derivative award at $0.00 per unit (i.e., a grant rather than an open‑market purchase or sale). This is a grant of equity compensation for board service, not an immediate sale or exercised option.

Key Details

• Transaction date: 2026-07-01; Form 4 filed: 2026-07-02 (filed timely).
• Transaction type: Grant / award of derivative securities (coded "A"); 7,508 units reported at $0.00 per unit.
• Vesting: Four equal quarterly installments on Oct 1, 2026; Jan 1, Apr 1, and Jul 1, 2027. If Seres’ 2027 annual meeting occurs before July 1, 2027, the final installment vests the day before that meeting. Vesting conditioned on continued service as a non‑employee director. (Footnote from the filing.)
• Shares owned after the transaction: Not specified in the provided filing excerpt.
• No indication of a 10b5-1 plan, tax‑withholding sale, or late filing in the provided information.

Context
This was an equity compensation grant to a director (common practice for non‑employee board members) and should be read as compensation/retention rather than a direct buy or sell that signals immediate insider sentiment. Because the award vests over time, the economic interest is gradual and contingent on continued board service.