DeGolyer Donald W 4

What Happened
Donald W. DeGolyer, a director of Emergent BioSolutions (EBS), sold a total of 15,481 shares in open-market transactions and simultaneously received equity awards from the company. On May 1, 2026 he sold 14,527 shares at a weighted-average price of $8.36 (proceeds $121,446) and 954 shares at a weighted-average price of $8.96 (proceeds $8,548), for combined proceeds of $129,994. On April 30, 2026 he was granted 25,344 restricted stock units (RSUs) and 11,296 director stock options (both recorded at $0.00 in the filing). The sales were pursuant to a Rule 10b5-1 trading plan to satisfy tax obligations tied to RSU vesting.

Key Details

• Transaction dates: RSU/options grant recorded 2026-04-30; sales executed 2026-05-01; Form 4 filed 2026-05-04. Filing appears timely.
• Sale prices and ranges: 14,527 shares at $8.36 (weighted average; executed across $7.78–$8.64 per share) and 954 shares at $8.96 (weighted average; executed across $8.80–$8.99 per share). Total proceeds $129,994.
• Awards: 25,344 RSUs (vest on the day before the one‑year anniversary of the grant, subject to continued board service) and 11,296 stock options (vest on same annual schedule). Option count determined per company formula using Black‑Scholes value.
• Reason for sale: Shares sold under a pre-existing 10b5-1 plan to satisfy tax obligations related to RSU vesting (per footnote).
• Shares owned after transaction: Not specified in the provided filing.
• No indication of late filing or other irregularities in the Form 4.

Context

• The RSUs and options are director compensation and vest contingent on continued board service (routine annual grant).
• Sales under a 10b5-1 plan to cover tax withholding are common and generally considered routine rather than a direct signal of sentiment.
• Derivative award (options) are grants, not exercises—no immediate cash exercise occurred.