BIZZARI JEAN-PIERRE 4

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.