Sullivan Patrick William 4

What Happened
Patrick William Sullivan, Harrow's Chief Commercial Officer, was granted two restricted stock unit (RSU) awards on 2026-01-30 totaling 40,000 RSUs (25,000 + 15,000). Each RSU represents a right to one share upon vesting. The awards were issued at $0.00 (no cash purchase) and are reported as derivative awards rather than immediate share ownership.

Key Details

• Transaction date: 2026-01-30; Filing date (Form 4): 2026-02-02 (filed within the standard two-business-day reporting window).
• Award amounts/prices: 25,000 RSUs @ $0.00 (F1); 15,000 RSUs @ $0.00 (F2). Reported value upon grant not provided on the Form 4.
• Shares owned after transaction: Not specified in the filing.
• Footnote F1: 25,000 RSUs under the 2025 Incentive and Awards Plan; each RSU converts to one share on vesting, five-year term, vesting tied to Harrow achieving $230,000,000 in revenue in a single calendar quarter (performance-based).
• Footnote F2: 15,000 RSUs under the Plan; each RSU converts to one share on vesting and will vest in full after three years (on 1/30/2029) (time-based).
• Classification: Awards reported as derivative grants (transaction code A).

Context
RSU grants are a common form of executive compensation and do not represent an immediate purchase or sale of stock. The 25,000-RSU tranche is performance-based (vesting contingent on a revenue milestone), while the 15,000-RSU tranche is time-vested (three-year cliff). Because these are grants that only convert to shares upon meeting vesting conditions, they should be interpreted as compensation arrangements rather than direct insider buying or selling.