Jayaraman Vivek K 4

What Happened

• Cerus Corp (CERS) COO Jayaraman Vivek K reported both sales and awards. On 2026-06-30 he sold 42,359 shares in open-market transactions for total proceeds of $124,658 (weighted average $2.94). Also reported were share dispositions of 80,000 shares (surrendered) to cover tax withholding in connection with vesting RSUs. On 2026-07-01 he was granted 554,529 restricted stock units (RSUs) and 369,686 performance rights (a total of 924,215 contingent awards) — both reported as acquisitions at $0 since they are contingent/subject to vesting or performance.

Key Details

• Transaction dates and prices:
  • 2026-06-30: Open-market sale of 42,359 shares, weighted avg price $2.94; shares sold across prices $2.84–$3.03 per share (total ~$124,658). (F2)
  • 2026-06-30: 80,000 shares disposed/surrendered at $0 to satisfy tax withholding and brokerage fees related to RSU vesting (not a discretionary sale). (F1)
  • 2026-07-01: Grants of 554,529 RSUs (A) and 369,686 performance rights (A, derivative) reported at $0.
• Shares owned after these transactions: Not disclosed in the Form 4 filing.
• Notable footnotes:
  • F1: The 80,000-share disposition was pursuant to a Rule 10b5-1 instruction to cover statutory tax withholding and brokerage fees (not a discretionary sale).
  • F2: Sales price range for the open-market sale was $2.84–$3.03; reporting person can provide breakdown on request.
  • F3: RSUs vest 33% on July 1, 2027 and 67% on July 1, 2028, subject to continuous service.
  • F4: Performance rights convert to common stock only if Cerus reaches specified stock-price targets.
• Filing timeliness: Form filed 2026-07-02; transactions on 6/30–7/1 were reported within the Form 4 filing window.

Context

• The 42,359-share sale generated modest proceeds (~$125k) and appears separate from the tax-withholding share surrender; the latter is routine and not an indication of discretionary selling.
• The RSUs and performance rights are contingent awards (not immediately tradable shares): RSUs vest over two years, while performance rights depend on stock-price hurdles. Purchases/awards (like these grants) are often more informative about long-term compensation incentives than routine withholding-related dispositions.