Allogene (ALLO) CEO David Chang gets 1.39M options, 392K RSUs and sells shares for taxes
Rhea-AI Filing Summary
Allogene Therapeutics President and CEO David D. Chang reported new equity awards and a tax-related share sale. On February 2, 2026, he received a stock option for 1,387,931 shares of common stock at an exercise price of $1.87 per share, vesting 25% on February 2, 2027, with the rest vesting in 36 equal monthly installments. He also received 392,586 restricted stock units, each representing one share of common stock, vesting in four equal annual installments from February 2, 2026, subject to continued service. To cover tax withholding on RSU vesting, 95,269 shares of common stock were sold at a weighted average price of $1.80 in a mandated "sell to cover" transaction, which the filing states was not a discretionary trade. After these transactions, he directly beneficially owned 5,185,862 shares of common stock and additional indirect holdings through several family trusts.
Positive
- None.
Negative
- None.
Insights
Large, structured equity grants to the CEO with a non-discretionary tax sale.
The filing shows David D. Chang receiving substantial long-term incentives: a stock option over 1,387,931 shares at $1.87, plus 392,586 RSUs on February 2, 2026. These awards tie potential value to future share performance and continued service through multi‑year vesting schedules.
The stock option vests 25% on February 2, 2027, then monthly over three additional years, while RSUs vest in four equal annual installments from February 2, 2026. This design emphasizes retention over several years. The filing also notes a sale of 95,269 shares at a weighted average price of $1.80 solely to satisfy tax withholding via a mandated "sell to cover" mechanism, characterized as non‑discretionary by the issuer.
Following these transactions, the CEO directly held 5,185,862 common shares, with additional indirect positions held through the RTC 2019 Trust, JEC 2019 Trust, and Chang 2006 Family Trust. Subsequent disclosures may show how future vesting and any exercises affect his overall equity exposure over time.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (Right to buy) | 1,387,931 | $0.00 | -- |
| Grant/Award | Restricted Stock Unit | 392,586 | $0.00 | -- |
| Sale | Common Stock | 95,269 | $1.80 | $171K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Represents the number of shares sold by the reporting person to cover tax withholding obligations in connection with the vesting of restricted stock units. This sale is mandated by the Issuer's election under its equity incentive plan to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the reporting person. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions ranging from $1.71 to $1.87, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above. Includes 4,562 shares of the Issuer's common stock acquired by the reporting person on September 15, 2025 pursuant to an employee stock purchase program. Securities held in the name of the RTC 2019 Trust dated October 1, 2019. Securities held in the name of the JEC 2019 Trust dated October 1, 2019. Securities held in the name of the Chang 2006 Family Trust 25% of the shares subject to the stock option shall vest on February 2, 2027, and the remaining shares shall vest in 36 equal monthly installments thereafter. Represents an award of Restricted Stock Units (RSUs). Each RSU represents a contingent right to receive one share of the Companys Common Stock. The RSUs will vest in 4 successive equal annual installments over the four-year period measured from February 2, 2026, subject to continued service through the vesting date.
