Shefferman Jesse 4

What Happened
Jesse Shefferman, CEO, President and Director of Protara Therapeutics, was granted a total of 611,000 restricted stock units (RSUs) on January 16, 2026. The filing shows two awards: 87,000 RSUs (acquired at $0) and 524,000 RSUs (reported as a derivative award, acquired at $0). No cash was paid for these awards; their value will depend on Protara’s share price when the RSUs vest. This is an award/grant (A) rather than a purchase or sale.

Key Details

• Transaction date: 2026-01-16. Form 4 filed 2026-01-21 (appears to be filed late by one business day versus the usual 2‑business‑day rule).
• Awards: 87,000 RSUs (F1) and 524,000 RSUs (derivative, F2); both reported at $0 acquisition price.
• Vesting (per footnotes):
  • F1 (87,000): Vest in equal one‑third installments on the first, second and third anniversaries of Jan 16, 2026.
  • F2 (524,000): 25% vests on the one‑year anniversary of Jan 16, 2026; thereafter 1/48th of the shares vest monthly over the next three years (per footnote language).
• Shares owned after the transaction: not disclosed in the Form 4 filing.
• Transaction code: A = Award/Grant. These are derivative RSUs (contingent rights to receive shares upon vesting).

Context
RSUs are compensation awards that convert to actual shares only after they vest; they don’t represent immediate open‑market buying or selling. Grants to executives are common compensation; they do not by themselves indicate the insider is buying or selling stock. Because the awards were issued at $0, the recipient paid nothing up front — the economic value will be realized only as RSUs vest and, if applicable, shares are delivered.