RedHill Biopharma (NASDAQ: RDHL) CCO Scruggs files Form 3 detailing large equity stake
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
RedHill Biopharma Ltd. director and Chief Commercial Officer Rick D. Scruggs filed an initial Form 3 disclosing his holdings in the company. As of the filing, he directly owns 312,500,000 Ordinary Shares, along with American Depositary Shares (ADSs) and equity awards linked to additional Ordinary Shares.
His equity-based compensation includes 31,250 unvested restricted share units, each tied to one ADS and settled in Ordinary Shares, plus 7,364 ADSs that are convertible at any time with no expiration date. He also holds fully vested stock options covering 750,000, 300,000, 70,000 and 840,000 Ordinary Shares, each granted under the RedHill 2010 Option Plan with exercise prices per ADS of $6,840, $7,000, $7,000 and $6,620, expiring between February 25, 2029 and July 25, 2031.
Positive
- None.
Negative
- None.
Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
Scruggs Rick D
Role
Chief Commercial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | American Depositary Shares | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
Holdings After Transaction:
American Depositary Shares — 73,640,000 shares (Direct);
Stock Option (Right to Buy) — 750,000 shares (Direct);
Ordinary Shares — 312,500,000 shares (Direct)
Footnotes (1)
- RepresentsIncludes 31,250 unvested restricted share units ("RSUs"), each with respect to one American Depositary Share ("ADS"), which represents 10,000 ordinary shares, par value NIS 0.01 per share ("Ordinary Shares"), of RedHill Biopharma Inc. (the "Issuer"). The RSUs are subject to time-based vesting conditions and are settled in Ordinary Shares. Represents 7,364 ADSs, which are convertible at any time, at the holder's election and have no expiration date. Represents stock option to purchase 750,000 Ordinary Shares (equivalent to 75 ADSs), issued to the reporting person pursuant to the RedHill 2010 Option Plan. The shares underlying this stock option are fully vested and exercisable. The exercise price of this stock option is $6,840 per ADS and the option expires on May 4, 2030. Represents stock option to purchase 300,000 Ordinary Shares (equivalent to 30 ADSs), issued to the reporting person pursuant to the RedHill 2010 Option Plan. The shares underlying this stock option are fully vested and exercisable. The exercise price of this stock option is $7,000 per ADS and the option expires on February 25, 2029. Represents stock option to purchase 70,000 Ordinary Shares (equivalent to 7 ADSs), issued to the reporting person pursuant to the RedHill 2010 Option Plan. The shares underlying this stock option are fully vested and exercisable. The exercise price of this stock option is $7,000 per ADS and the option expires on May 6, 2029. Represents stock option to purchase 840,000 Ordinary Shares (equivalent to 84 ADSs), issued to the reporting person pursuant to the RedHill 2010 Option Plan. The shares underlying this stock option are fully vested and exercisable. The exercise price of this stock option is $6,620 per ADS and the option expires on July 25, 2031.
FAQ
What does Rick D. Scruggs disclose in his Form 3 for RDHL?
Rick D. Scruggs discloses his initial ownership in RedHill Biopharma. He reports 312,500,000 Ordinary Shares held directly, plus ADSs, unvested restricted share units, and several fully vested stock option grants over additional Ordinary Shares under the company’s 2010 Option Plan.
Are Scruggs’ stock options in RDHL vested and exercisable?
All reported stock options for Scruggs are fully vested and exercisable. Each option grant under the RedHill 2010 Option Plan is currently exercisable at its stated exercise price per ADS and remains outstanding until its respective expiration date between 2029 and 2031.