BIZZARI JEAN-PIERRE 4
4 · ADC Therapeutics SA · Filed Jun 3, 2026
Research Summary
AI-generated summary of this filing
ADC Therapeutics (ADCT) Director Jean‑Pierre Bizzari Receives RSU Award
What Happened
Jean‑Pierre Bizzari, a director of ADC Therapeutics SA (ADCT), was granted 45,000 restricted stock units (RSUs) on 2026-06-01 (reported 2026-06-03). The RSUs have a $0.00 acquisition price because they are awards; each RSU represents a contingent right to one share. On 2026-06-03, 12,600 shares were disposed of (withheld) by the issuer to satisfy tax withholding obligations related to previously vested RSUs — the filing shows a withholding value of $3.08 per share, totaling $38,808. The award itself is not a market purchase and the withholding is routine tax settlement, not an open-market sale.
Key Details
- Transaction dates: Grant of 45,000 RSUs on 2026-06-01 (code A); tax withholding of 12,600 shares on 2026-06-03 (code F).
- Prices/values: RSU grant recorded at $0.00 per RSU; withholding valued at $3.08/share = $38,808.
- Shares owned after transaction: Not specified in the provided excerpt of the filing (see full Form 4 for total beneficial ownership).
- Footnotes: F1 — RSUs vest on the earlier of one year from grant or the 2027 annual meeting, subject to continued service. F2 — 12,600 shares withheld to satisfy tax withholding on vested RSUs.
- Timeliness: Report filed 2026-06-03 for a 2026-06-01 grant — appears to be timely (filed within the typical 2-business-day reporting window).
Context
RSU grants (code A) are compensation awards and do not indicate a purchase conviction; they become shares only upon vesting. The withheld shares (code F) are a standard, administrative cashless-withholding mechanism to cover taxes and should not be interpreted as a discretionary sale of shares on the open market.
Insider Transaction Report
- Award
Common Shares
[F1]2026-06-01+45,000→ 151,902 total - Tax Payment
Common Shares
[F2]2026-06-03$3.08/sh−12,600$38,808→ 139,302 total
Footnotes (2)
- [F1]Represents the annual grant of restricted stock units ("RSUs") made under the Issuer's 2019 Equity Incentive Plan for service as a Director. The RSUs vest on the earlier of (i) one year from the grant date or (ii) the date of the 2027 Annual Meeting of Shareholders, subject to the Reporting Person's continued service to the Issuer. Each RSU represents a contingent right to receive one share of the Issuer's common stock.
- [F2]Represents the number of Common Shares withheld by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting of restricted share units previously granted.