Earnings Feed
Start Free
ADC Therapeutics SA·4

Jun 3, 5:02 PM ET

Coughlin Timothy 4

Research Summary

AI-generated summary

Updated

ADC Therapeutics (ADCT) Director Timothy Coughlin Receives RSUs, Sells Shares

What Happened
Timothy Coughlin, a director of ADC Therapeutics (ADCT), received an award of 45,000 restricted stock units (RSUs) on 2026-06-01 (recorded at $0.00 per share for the grant). Separately, on 2026-06-03 the company withheld 12,600 shares (disposed) at $3.08 each to satisfy tax withholding obligations related to previously vested RSUs, totaling $38,808. The RSU grant vests on the earlier of one year from the grant date or the 2027 Annual Meeting, subject to continued service.

Key Details

  • Transactions:
    • 2026-06-01 — Award/Grant (Code A): 45,000 RSUs @ $0.00 (acquired). Each RSU equals a contingent right to one share.
    • 2026-06-03 — Tax withholding (Code F): 12,600 shares withheld/disposed @ $3.08 = $38,808 (to satisfy tax withholding on prior RSU vesting).
  • Shares owned after transaction: Not specified in the filing.
  • Footnotes:
    • F1: Annual director RSU grant; vests the earlier of one year or the 2027 Annual Meeting, subject to continued service.
    • F2: The 12,600 shares were withheld by the issuer to cover tax withholding on previously granted RSUs.
  • Filing timeliness: Report filed 2026-06-03 for a 2026-06-01 grant—appears to be filed within the normal Form 4 reporting window.

Context
RSU grants are compensation awards (not open-market purchases) and typically reflect routine director compensation. The withheld shares represent a common tax-withholding mechanism (shares are surrendered to cover tax obligations) and should not be read as a discretionary sale signal about company prospects.