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Vaxcyte, Inc.·4

Mar 2, 8:08 PM ET

Cowan Elvia 4

4 · Vaxcyte, Inc. · Filed Mar 2, 2026

Research Summary

AI-generated summary of this filing

Updated

Vaxcyte (PCVX) SVP Finance Elvia Cowan Exercises Options, Receives RSUs

What Happened
Elvia Cowan, SVP, Finance & CAO of Vaxcyte, exercised stock options on Feb 26, 2026 to acquire 7,716 shares at $25.92 per share (total cash paid $199,999). On the same date she was granted RSU awards (10,681 shares and a separate derivative award of 17,855 units). Following vesting events, 243 shares (Feb 28) and 326 shares (Mar 2) were surrendered to the company to cover tax withholding (total surrendered = 569 shares, ~$35,266). Aside from the withholding, no open-market sales were reported — the exercise was effectively a cash exercise to take possession of the shares.

Key Details

  • Transaction dates/prices:
    • 2026-02-26: Exercised options for 7,716 shares at $25.92/share = $199,999.
    • 2026-02-26: RSU grants reported — 10,681 shares and 17,855 RSU-equivalent units (reported as derivative award) at $0.
    • 2026-02-28: 243 shares surrendered at $61.98/share = $15,061 (tax withholding).
    • 2026-03-02: 326 shares surrendered at $61.98/share = $20,205 (tax withholding).
  • Shares surrendered for tax withholding: 569 shares (~$35.3K total), per footnote F2.
  • Shares owned after the transactions: filing does not specify total beneficial ownership following these entries.
  • Vesting/other notes (from filing footnotes):
    • F1: RSUs vest 1/4 on Sept 7, 2026, then 1/8 every six months thereafter (subject to continued service).
    • F3/F4: Option vesting schedules noted (monthly thereafter following initial cliffs).
    • F2: Shares surrendered were to satisfy tax withholding on RSU vesting.
  • Timeliness: Filing dated 2026-03-02 for transactions on 2026-02-26 — appears timely (filed within required business-day window).

Context

  • This was an option exercise plus RSU grants, not an open-market sale. The payment of $199,999 indicates a cash exercise (shares acquired rather than sold immediately). The small number of shares surrendered were used solely to satisfy tax withholding on vested RSUs, a common administrative step that is not the same as a market sale.
  • RSU grants are subject to vesting schedules; until vested they do not represent immediately tradable shares. This filing is largely administrative (exercise + grant + tax withholding) rather than a signal of large insider selling.

Insider Transaction Report

Form 4
Period: 2026-02-26
Vaxcyte, Inc.PCVX
Cowan Elvia
SVP, Finance & CAO
Transactions
  • Award

    Common Stock

    [F1]
    2026-02-26+10,681→ 24,215 total
  • Exercise/Conversion

    Common Stock

    2026-02-26$25.92/sh+7,716$199,999→ 31,931 total
  • Tax Payment

    Common Stock

    [F2]
    2026-02-28$61.98/sh−243$15,061→ 31,688 total
  • Tax Payment

    Common Stock

    [F2]
    2026-03-02$61.98/sh−326$20,205→ 31,362 total
  • Award

    Stock Option (right to buy)

    [F3]
    2026-02-26+17,855→ 17,855 total
    Exercise: $60.00Exp: 2036-02-26→ Common Stock (17,855 underlying)
  • Exercise/Conversion

    Stock Option (right to buy)

    [F4]
    2026-02-26−7,716→ 98,568 total
    Exercise: $25.92Exp: 2032-08-08→ Common Stock (7,716 underlying)
Footnotes (4)
  • [F1]Represents the number of shares of Common Stock underlying restricted stock units ("RSUs"). Each RSU represents the contingent right to receive one share of the Issuer's Common Stock. The RSUs vest as to 1/4 of the shares subject to the award on September 7, 2026 and 1/8 of the shares every six months thereafter, subject to Reporting Person's continuous service with the Issuer through each such date.
  • [F2]Represents shares surrendered to the Issuer to cover applicable tax withholding obligations realized upon the vesting of RSUs.
  • [F3]1/48 of shares subject to the option vest on March 26, 2026, and 1/48 of the shares vest monthly thereafter, subject to Reporting Person's continuous service with the Issuer through each such date.
  • [F4]1/4 of the shares subject to the option vested on July 1, 2023, and 1/48 of the shares vest monthly thereafter, subject to Reporting Person's continuous service with the Issuer through each such date.
Signature
Elvia Cowan, by /s/ Peter N. Efremenko, Attorney-In-Fact|2026-03-02

Documents

1 file
  • 4
    wk-form4_1772500112.xmlPrimary

    FORM 4