Procept (PRCT) EVP/CFO Kevin Waters Receives RSU & Option Awards

What Happened

• Kevin Waters, EVP and CFO of PROCEPT BioRobotics (PRCT), received equity awards on 2026-08-13: 29,527 restricted stock units (RSUs) and 40,851 derivative option-type units, each recorded at $0.00 (grant awards rather than market purchases). These grants were reported on an SEC Form 4 filed 2026-08-14. The filing indicates the awards represent roughly 50% of his expected 2027 grant and were made in lieu of that portion of the 2027 award.
• These are compensation/retention awards, not open-market purchases or sales, so they reflect company compensation policy rather than an immediate trading view.

Key Details

• Transaction date(s) and price(s): 2026-08-13; both awards reported at $0.00 (code A = Award/Grant).
• Award amounts: 29,527 RSUs and 40,851 derivative units (total 70,378 units).
• Vesting (from footnotes):
  • RSUs (F1): 1/4 vests on August 13, 2027; thereafter one-sixteenth of the remaining RSUs vest quarterly over 36 months, subject to continued service.
  • Derivative/option units (F2): vest monthly at 1/48th beginning August 13, 2026, over four years, subject to continued service.
• Intent: Each grant is stated to be 50% of the value of Waters’s expected 2027 grant and was made in lieu of that portion of the expected 2027 grant.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Timeliness: Reported on 2026-08-14 for a 2026-08-13 transaction — appears timely (not marked late).

Context

• RSUs are contingent rights to receive shares upon vesting (no immediate shares delivered until vesting conditions are met). The derivative award vests monthly over four years (standard service-based vesting).
• These awards are routine executive compensation/retention measures and do not involve an immediate sale or purchase in the market. They signal alignment of the executive’s compensation with the company’s equity but are not a direct market buy/sell.