Pennell Sandra 4

What Happened

• Sandra Pennell, Chief Financial Officer of Delcath Systems, Inc. (DCTH), received equity awards on February 17, 2026: 56,500 derivative awards (option-style grant) and 28,250 restricted stock units (RSUs). Both items were reported as acquired at $0.00 (typical for grant reporting; not an open‑market purchase or sale).
• Total units granted: 84,750 (56,500 options + 28,250 RSUs). These are compensation awards, not sales — they represent future rights to shares subject to vesting and other plan terms.

Key Details

• Transaction date: 2026-02-17; Form filed: 2026-02-18 (appears timely).
• Reported acquisition price: $0.00 for both awards (award/grant).
• Vesting / other footnotes:
  • F1 (options): the option vests monthly at 1/36th per month beginning Feb 17, 2026, subject to continued employment and plan terms.
  • F2 (RSUs): each RSU equals the contingent right to receive one share of common stock upon vesting.
  • F3 (RSU vesting schedule): 1/3 of the RSUs vest on Feb 17, 2027; the remaining 2/3 vest in equal annual installments over the following two years, subject to continuous service.
• Shares owned after transaction: not specified in the provided filing details.
• Filing timeliness: filing date is the day after the transaction; no late filing flag noted.

Context

• These are compensation grants (award code A), not purchases or sales; they indicate executive compensation rather than an immediate market bet. Options and RSUs become economically meaningful only as they vest (and, for options, if exercised). Vesting is contingent on continued employment and plan terms.