White Marvin L 4

What Happened

• Marvin L. White, a member of Emergent BioSolutions’ board of directors, received annual equity awards on April 30, 2026. The filing reports 25,344 restricted stock units (RSUs) granted (non-derivative) and 11,296 derivative awards (stock options or option-like awards). Each grant was reported at $0.00 acquisition price (routine awards), and the awards will vest subject to continued board service.

Key Details

• Transaction date: 2026-04-30 (Form 4 filed 2026-05-04).
• Awards: 25,344 RSUs (non-derivative) and 11,296 derivative awards (options), acquisition price $0.00 for both.
• Vesting: Shares underlying the RSUs and the options vest on the day prior to the one-year anniversary of the grant (i.e., the "Annual Grant Vesting Date"), subject to Mr. White remaining on the board (footnotes F1–F2).
• How option quantity was set: The number of options was calculated using 25% of total non-employee director compensation divided by the Black‑Scholes value of a single option as of the grant date (footnote F3).
• Shares owned after transaction: Not specified in the filing.
• Timeliness: Filing appears timely (filed within the two-business-day window required for Form 4).

Context

• These are routine, annual board compensation awards for non-employee directors—non-cash grants that vest only with continued service. They are not sales or open‑market purchases and do not by themselves indicate an immediate bullish or bearish signal.
• The derivative award represents an option-like right to acquire shares upon vesting at an exercise price (not specified in the filing). If exercised later, it could be followed by sale or retention depending on the insider’s actions.