Pursglove Geordan Garrett 4

What Happened Geordan Pursglove, CEO and Chairman of Lixte Biotechnology (LIXT), had 350,000 stock options canceled and in exchange was granted 350,000 restricted stock units (RSUs) on April 15, 2026. The RSUs vest immediately and each RSU represents a contingent right to one share of common stock upon vesting. No cash was reported and no per-share price or total dollar value was disclosed in the filing.

Key Details

• Transaction date: April 15, 2026 (Form 4 filed April 17, 2026 — timely filing under the two-business-day rule).
• Grant: 350,000 RSUs granted; vest immediately upon grant.
• Disposition/Derivative: 350,000 options canceled (reported as a disposition to the issuer); the options were exchanged for the RSUs.
• Price/value: N/A in the filing (no exercise price or cash consideration reported).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: The options canceled were originally granted July 3, 2025 and had a vesting schedule (50% at grant, 25% on 9/30/2025, 25% on 12/31/2025). The April 15, 2026 RSU award was made under the company’s 2020 Stock Incentive Plan.

Context This was not an open-market buy or sale — it’s a conversion of previously granted options into RSUs that vest immediately, giving the insider a contingent right to common shares rather than exercising options for cash or selling stock. Such restructurings are commonly used for retention or to change the form of equity compensation; the filing does not indicate proceeds, a sale, or a tax-withholding disposition.