LINDAHL RICHARD S 4

What Happened

• Richard S. Lindahl, Chief Financial Officer of Emergent BioSolutions (EBS), had two long derivative positions (stock options) expire unexercised. The options expired on 2025-05-07 (19,963 shares) and 2026-02-25 (20,321 shares), totaling 40,284 underlying shares. The reported price for both expirations is $0.00 and, per the filing, no value was received upon expiration.

Key Details

• Transaction dates and results:
  • 2025-05-07: expiration of long derivative position — 19,963 shares @ $0.00 (disposed) (Footnote F1)
  • 2026-02-25: expiration of long derivative position — 20,321 shares @ $0.00 (disposed) (Footnote F1)
• Total shares affected: 40,284
• Cash/proceeds: $0 — the options expired unexercised and no value was received (Footnote F1).
• Vesting notes: some awards referenced vested in three equal installments (Footnotes F2 and F3), indicating prior vesting schedules for the underlying awards.
• Shares owned after transaction: not specified in the filing.
• Filing timeliness: This Form 4 was filed late due to an inadvertent administrative error; the company says it will report late Form 4s in its next proxy (transaction timeliness: L).

Context

• These were expirations of option-like derivative awards rather than open-market sales or purchases; no shares were sold in the market and no cash changed hands. Expirations typically occur when options are not exercised before termination and do not by themselves indicate a directional view on the stock. The late filing is an administrative disclosure issue the company has acknowledged.