Arbutus (ABUS) CEO Lindsay Androski Exercises Options

What Happened Lindsay Androski, President, CEO and Director of Arbutus Biopharma (ABUS), exercised stock options on September 18, 2026 to acquire a total of 126,864 shares. The exercise entries show 116,408 shares at $3.20 ($372,506) and 10,456 shares at $4.39 ($45,902), for a combined value of about $418k. The company withheld 82,527 shares (valued at $5.07 each) to satisfy exercise price/tax liabilities, resulting in a net issuance to Androski of 44,337 shares (126,864 − 82,527). Two option-related lines are shown as “disposed” at $0, reflecting the conversion/termination of the derivative instruments upon exercise.

Key Details

• Transaction date: September 18, 2026; Form 4 filed September 23, 2026 (no late-filing flag shown).
• Exercise breakdown: 116,408 shares @ $3.20 (≈ $372,506) and 10,456 shares @ $4.39 (≈ $45,902); total ≈ $418,408.
• Withholding/tax payment: 82,527 shares withheld @ $5.07 (≈ $418,412) to cover exercise price/taxes (cashless/net exercise).
• Net new shares received by insider: 44,337 shares.
• Footnotes: F2/F3 describe two option grants (310,422-share grant from 3/18/2025 vesting over 4 years; 71,700-share grant from 2/2/2026 vesting monthly over 4 years). F1 explains the withholding used to satisfy exercise price/tax obligations.
• Shares owned after transaction: Not specified in the provided filing excerpt.

Context

• Code M indicates option exercise; code F indicates shares withheld to pay exercise price/taxes. The withholding constitutes a cashless/net exercise — common for executives exercising vested options and does not necessarily signal buy/sell market intent.
• The filing documents vesting schedules for the underlying option grants; the exercised shares likely reflect vested portions available as of the exercise date.