Hug Peter 4

What Happened

• Peter Hug, a director of ADC Therapeutics (ADCT), received an annual grant of 45,000 restricted stock units (RSUs) on 2026-06-01 (reported as an Award/Grant, code A). The RSUs were granted at $0.00 per share because they are contingent rights to receive common stock upon vesting.
• On 2026-06-03 the company withheld 2,156 common shares (coded F) to satisfy Mr. Hug’s tax withholding obligations in connection with the vesting of previously granted RSUs. The withheld shares were recorded at $3.08 per share for a total withholding value of about $6,640.

Key Details

• Transaction dates and amounts:
  • 2026-06-01: Award of 45,000 RSUs (code A) — $0.00 reported per share (contingent grant).
  • 2026-06-03: Tax withholding (code F) — 2,156 shares withheld at $3.08/share (~$6,640).
• Shares owned after the transactions: not specified in the provided filing.
• Notable footnotes:
  • F1: RSUs granted under the 2019 Equity Incentive Plan; vest on the earlier of one year from grant or the 2027 Annual Meeting, subject to continued service. Each RSU is a contingent right to one share.
  • F2: Withheld shares represent tax withholding for previously vested RSUs.
• Filing timeliness: Form 4 filed 2026-06-03 for transactions on 6/1 and 6/3; no late filing indicated.

Context

• The 45,000-item entry is a grant of RSUs (not an open-market purchase) and only converts to shares if/when the RSUs vest per the stated schedule. The 2,156-share disposition was a company tax-withholding action tied to prior vesting (routine administrative action), not an open-market sale that signals trading intent.