Fowler Neal Franklin 4

What Happened
Neal Fowler, a member of the Emergent BioSolutions (EBS) board of directors, received annual equity awards on April 30, 2026: 25,344 restricted stock units (RSUs) and 11,296 stock options. The reported acquisition price is $0.00 because these were grants (not purchases); the combined award equals 36,640 equity instruments. Both the RSUs and the options vest on the day before the one-year anniversary of the grant, provided Fowler remains a board member through that date.

Key Details

• Transaction date: 2026-04-30; Form 4 filed 2026-05-04 (timely — within the two business-day reporting window).
• Grants: 25,344 RSUs (award, $0.00) and 11,296 stock options (derivative grant, $0.00). Total instruments: 36,640.
• Shares/ownership after transaction: not disclosed in the filing.
• Footnotes:
  • F1 — RSUs: each RSU converts into one share upon vesting; vesting on the Annual Grant Vesting Date (day before one-year anniversary) contingent on board service.
  • F2 — Options: each option is a right to purchase one share at the option exercise price; options vest on the same Annual Grant Vesting Date.
  • F3 — Option count was set by taking 25% of the non‑employee director compensation value and dividing by a Black‑Scholes option value calculated at grant.

Context
These are routine, annual non-employee director compensation awards (a common way companies pay outside directors). RSUs represent future stock deliveries on vesting; the granted options give the right to buy shares at a set exercise price upon vesting. Because these are grants (not open-market buys or sales), they reflect standard compensation rather than an immediate market sentiment signal.