Zawitz David 4

What Happened
David Zawitz, Chief Operating Officer of Verrica Pharmaceuticals (VRCA), was granted 171,340 derivative securities (an option award) effective June 5, 2026. The Form 4 reports the acquisition at $0.00 (award/grant), meaning no cash was paid at grant; the award is a stock option subject to vesting conditions rather than an immediate share purchase.

Key Details

• Transaction date: 2026-06-05; Form 4 filed 2026-06-09 (filed within the two-business-day window).
• Grant amount: 171,340 options; reported acquisition price: $0.00 (award/derivative).
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Footnote F1: Option was approved by a board committee on Dec 23, 2025 but was contingent on shareholder approval of an amendment to the 2018 Equity Incentive Plan; shareholders approved that amendment on June 5, 2026 (grant became effective).
• Footnote F2: Vesting is performance-based — 50% vests when the closing price reaches $15.00, and the remaining 50% vests when the closing price reaches $25.00 (vesting also requires continuous service through each vesting date).

Context
This was an option grant (derivative award), not an immediate share purchase or sale. The options only vest if specified stock-price thresholds are met and the executive remains employed; there is no indication of an immediate cashless exercise or sale. Awards like this are common for executive compensation and are intended to align management incentives with stock performance.