Achieve Life Sciences (ACHV) grants CEO large PRSU, option and RSU awards
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
ACHIEVE LIFE SCIENCES, INC. granted CEO and President Andrew D. Goldberg three equity awards tied to the company’s common stock. He received 11,706,270 Performance Restricted Stock Units (PRSUs), 3,601,929 stock options with a $4.25 exercise price, and 1,800,965 time-based Restricted Stock Units (RSUs).
The RSUs vest as to one quarter of the award on the one-year anniversary of April 18, 2026 and then in substantially equal quarterly installments over the next twelve quarters, subject to continued service and potential accelerated vesting under his employment agreement. The options vest one quarter on the one-year anniversary of April 18, 2026 and then in substantially equal monthly installments over thirty-six months, also subject to continued service and potential acceleration.
The PRSUs vest based on eight share price milestones ranging from 2x to 9x of a reference price, together with specified financial performance conditions, with eligibility for accelerated vesting under his employment agreement. Each RSU and PRSU represents a contingent right to receive one share of common stock upon settlement.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Goldberg Andrew D.
Role
CEO and President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit (RSU) | 1,800,965 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy) | 3,601,929 | $0.00 | -- |
| Grant/Award | Performance Restricted Stock Unit (PRSU) | 11,706,270 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Unit (RSU) — 1,800,965 shares (Direct, null);
Stock Option (right to buy) — 3,601,929 shares (Direct, null);
Performance Restricted Stock Unit (PRSU) — 11,706,270 shares (Direct, null)
Footnotes (1)
- Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock at settlement. Pursuant to the terms of the award agreement governing the RSU, the number of shares underlying the RSU vest as to 1/4 of the total award on the one-year anniversary of April 18, 2026, and thereafter in substantially equal quarterly installments on the twelve quarterly anniversaries thereafter, subject to the Reporting Person's provision of services to the Issuer on each vesting date. The RSUs are eligible for accelerated vesting pursuant to the Reporting Person's employment agreement with the Issuer. The option will vest as to 1/4 of the total award on the one-year anniversary of April 18, 2026, and thereafter in substantially equal monthly installments over thirty-six months, subject to the Reporting Person's provision of services to the Issuer on each vesting date. The shares subject to the option are eligible for accelerated vesting pursuant to the Reporting Person's employment agreement with the Issuer. Pursuant to the terms of the award agreement governing the PRSU, the number of shares underlying the PRSU vest based on achievement of eight share price milestones ranging from 2x to 9x of a reference price, in whole or in part, upon achievement of certain financial performance conditions. The PRSUs are eligible for accelerated vesting pursuant to the Reporting Person's employment agreement with the Issuer.
Key Figures
Performance RSUs granted: 11,706,270 units
Stock options granted: 3,601,929 options
Option exercise price: $4.25 per share
+3 more
6 metrics
Performance RSUs granted
11,706,270 units
PRSUs linked to common stock for CEO Andrew D. Goldberg
Stock options granted
3,601,929 options
Options with $4.25 exercise price expiring on April 18, 2036
Option exercise price
$4.25 per share
Exercise price on newly granted stock options
RSUs granted
1,800,965 units
Time-based RSUs tied to common stock
Equity award expiration
April 18, 2036
Expiration date for PRSU, option and RSU awards
PRSU price milestones
2x–9x reference price
Eight share price milestones govern PRSU vesting
Key Terms
Performance Restricted Stock Unit (PRSU), Restricted Stock Unit (RSU), stock option, accelerated vesting, +1 more
5 terms
Performance Restricted Stock Unit (PRSU) financial
"Pursuant to the terms of the award agreement governing the PRSU, the number of shares underlying the PRSU vest based on achievement of eight share price milestones"
Restricted Stock Unit (RSU) financial
"Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock at settlement."
A restricted stock unit (RSU) is a promise from a company to give an employee company shares (or cash equal to their value) at a future date if certain conditions are met, such as staying with the company or hitting performance targets. For investors, RSUs matter because when they convert into actual shares they increase the number of shares available and can create selling pressure as employees cash out—think of them as a future paycheck paid in company stock.
stock option financial
"The option will vest as to 1/4 of the total award on the one-year anniversary of April 18, 2026, and thereafter in substantially equal monthly installments"
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
accelerated vesting financial
"The RSUs are eligible for accelerated vesting pursuant to the Reporting Person's employment agreement with the Issuer."
FAQ
What equity awards did ACHV grant to CEO Andrew D. Goldberg?
ACHIEVE LIFE SCIENCES granted CEO Andrew D. Goldberg three equity awards: PRSUs, stock options, and RSUs. He received 11,706,270 Performance RSUs, 3,601,929 stock options, and 1,800,965 time-based RSUs, all linked to the company’s common stock and subject to vesting conditions.
How do Andrew Goldberg’s new RSUs at ACHV vest over time?
The RSUs for Andrew Goldberg vest one quarter of the total award on the one-year anniversary of April 18, 2026. The remaining RSUs vest in substantially equal quarterly installments over twelve quarterly anniversaries, contingent on his continued service and with eligibility for accelerated vesting under his employment agreement.
What are the terms of Andrew Goldberg’s newly granted stock options at ACHV?
Andrew Goldberg’s stock options cover 3,601,929 shares of common stock with a $4.25 exercise price. One quarter vests on the one-year anniversary of April 18, 2026, with the rest vesting in substantially equal monthly installments over thirty-six months, subject to continued service and potential accelerated vesting.
How are the Performance RSUs (PRSUs) for ACHV’s CEO structured?
The PRSUs for ACHV’s CEO cover 11,706,270 underlying shares and vest based on eight share price milestones from 2x to 9x a reference price. Vesting also requires achievement of specified financial performance conditions, with eligibility for accelerated vesting under his employment agreement.
What does each RSU or PRSU granted to ACHV’s CEO represent?
Each RSU or PRSU granted to ACHV’s CEO represents a contingent right to receive one share of the company’s common stock at settlement. Actual receipt depends on satisfying the vesting schedule, continued service requirements, and, for PRSUs, applicable share price and financial performance conditions.
Do Andrew Goldberg’s new equity awards at ACHV include potential accelerated vesting?
Yes. The RSUs, stock options, and PRSUs granted to Andrew Goldberg are each eligible for accelerated vesting under his employment agreement. Acceleration would apply in circumstances defined in that agreement, while ordinary vesting depends on continued service and, for PRSUs, performance conditions.