PICKERING GRANT 4
4 · Vaxcyte, Inc. · Filed Mar 2, 2026
Research Summary
AI-generated summary of this filing
Vaxcyte (PCVX) CEO Grant Pickering Receives RSU/Option Awards
What Happened
Grant Pickering, CEO of Vaxcyte (PCVX), received equity awards on Feb 26, 2026 and surrendered shares later to cover tax withholding. The filing shows (a) an award of 105,110 restricted stock units (RSUs) acquired 2026-02-26 at $0.00 and (b) a derivative award of 175,698 shares (also acquired 2026-02-26 at $0.00). To satisfy tax withholding when RSUs vested, Pickering surrendered 2,863 shares on 2026-02-28 and 2,531 shares on 2026-03-02 at $61.98 per share (total proceeds/withholding value = $177,449 and $156,871 respectively; combined = $334,320).
Key Details
- Transaction dates and types:
- 2026-02-26: Grant of 105,110 RSUs (Code A) and 175,698 derivative award (Code A) — acquisition price $0.00.
- 2026-02-28: Surrendered 2,863 shares for tax withholding (Code F) at $61.98 (value $177,449).
- 2026-03-02: Surrendered 2,531 shares for tax withholding (Code F) at $61.98 (value $156,871).
- Total shares surrendered for taxes: 5,394; total withholding value: $334,320.
- Vesting/award notes from the filing:
- F1: Each RSU represents the right to one share; RSUs vest 1/4 on Sept 7, 2026 and then 1/8 every six months thereafter, subject to continued service.
- F5: The derivative award vests 1/48 on March 26, 2026 and 1/48 monthly thereafter, subject to continued service.
- F2: The surrendered shares were used to cover tax withholding upon RSU vesting.
- F3/F4: Some shares are held in trusts for the Reporting Person’s son/daughter (ownership structure noted).
- Shares owned after the transactions: not specified in the provided filing excerpt.
- Filing date: March 2, 2026 (covers transactions beginning Feb 26, 2026). Filing appears timely (within the typical two business-day Form 4 deadline).
Context
The awards were granted at $0.00 acquisition price (typical for RSUs/options) and the surrendered shares reflect routine tax withholding (transaction code F), not an open‑market sale. The derivative award follows a monthly vesting schedule starting March 26, 2026; the RSUs have a more front‑loaded vesting (1/4 then semiannual installments). Such grants are standard executive compensation and the tax‑withholding share surrender is common and does not necessarily signal intent to buy or sell additional stock.
Insider Transaction Report
- Award
Common Stock
[F1]2026-02-26+105,110→ 506,018 total - Tax Payment
Common Stock
[F2]2026-02-28$61.98/sh−2,863$177,449→ 503,155 total - Tax Payment
Common Stock
[F2]2026-03-02$61.98/sh−2,531$156,871→ 500,624 total - Award
Stock Option (right to buy)
[F5]2026-02-26+175,698→ 175,698 totalExercise: $60.00Exp: 2036-02-26→ Common Stock (175,698 underlying)
- 136,215(indirect: By Trust)
Common Stock
[F3] - 136,215(indirect: By Trust)
Common Stock
[F4]
Footnotes (5)
- [F1]Represents the number of shares of Common Stock underlying restricted stock units ("RSUs"). Each RSU represents the contingent right to receive one share of the Issuer's Common Stock. The RSUs vest as to 1/4 of the shares subject to the award on September 7, 2026 and 1/8 of the shares every six months thereafter, subject to Reporting Person's continuous service with the Issuer through each such date.
- [F2]Represents shares surrendered to the Issuer to cover applicable tax withholding obligations realized upon the vesting of RSUs.
- [F3]Shares are held directly by a trust for the benefit of the Reporting Person's son.
- [F4]Shares are held directly by a trust for the benefit of the Reporting Person's daughter.
- [F5]1/48 of shares subject to the option vest on March 26, 2026, and 1/48 of the shares vest monthly thereafter, subject to Reporting Person's continuous service with the Issuer through each such date.