Donnelly Noel 4

What Happened
Donnelly Noel, Chief Financial Officer of PepGen Inc. (PEPG), received two equity awards on 2026-03-01: 76,793 restricted stock units (RSUs) and a derivative equity award covering 300,000 shares. Both awards were reported with an acquisition price of $0.00 (typical for compensation grants), so there was no cash purchase or sale.

Key Details

• Transaction date(s): 2026-03-01; Form 4 filed 2026-03-02 (timely filing).
• Awards reported: 76,793 RSUs (reported as A) and 300,000-share derivative award (reported as A). Reported acquisition price for both = $0.00.
• Vesting for RSUs (F1): RSUs vest in equal annual installments over four years; first vesting on March 1, 2027, subject to continued service.
• Vesting for derivative award (F3): 25% vests on the one-year anniversary of the grant, remaining 75% vests in 36 equal monthly installments thereafter, subject to continued service. This indicates the derivative award is subject to a time-based vesting schedule.
• Note (F2): Filing references 11,938 shares acquired under the company’s 2022 ESPP on Nov 28, 2025 (exempt under Rule 16b-3(c)).
• Shares owned after transaction: not specified in the provided excerpt.

Context
These transactions are compensation grants (awards), not open-market purchases or sales. RSUs and time-vested option-like awards are standard executive compensation and do not necessarily indicate an immediate bullish or bearish view—rather, they tie pay to continued service and future performance. The filing appears timely (filed the next day).