Arbutus (ABUS) CFO Tuan Nguyen Exercises Options

What Happened
Tuan Nguyen, Chief Financial Officer of Arbutus Biopharma (ABUS), exercised stock options on Sept 18, 2026. He exercised two option tranches totaling 293,100 shares (265,625 shares @ $3.49 and 27,475 shares @ $4.39), with an aggregate exercise cost of about $1.05M. The company withheld 206,637 shares to satisfy the exercise price/tax withholding (reported value ~$1.05M), resulting in approximately 86,463 net shares issued to Nguyen. Transaction codes: M = option exercise; F = withholding for exercise/taxes.

Key Details

• Transaction date: 2026-09-18 (Filed with SEC on 2026-09-23). The filing was submitted after the standard 2-business-day Form 4 deadline.
• Options exercised: 265,625 shares @ $3.49 (value $927,031) and 27,475 shares @ $4.39 (value $120,615) — total ~293,100 shares; aggregate exercise value ≈ $1,047,646.
• Withholding: 206,637 shares withheld @ $5.07 reported value = $1,047,650 to cover exercise price/taxes (cashless-like settlement).
• Net shares received by insider: ~86,463 shares (293,100 issued less 206,637 withheld).
• Shares owned after transaction: not specified in the provided excerpt — see the full Form 4 for post-transaction holdings.
• Relevant footnotes: F1 confirms the withholding; F2 and F3 describe vesting schedules for the two option grants (750,000-share grant vesting over 4 years from March 31, 2025; 188,400-share grant vesting monthly over 4 years from Feb 2, 2026).

Context
This was an exercise of vested options rather than an open-market purchase or an outright sale. Because the issuer withheld shares to cover the exercise price/taxes, this functions like a cashless exercise (no meaningful cash outlay or market sale reported by the insider). Such exercises are common for executives exercising vested options; the filing itself was reported after the usual 2-business-day window.