[Form 3] Vanda Pharmaceuticals Inc. Initial Statement of Beneficial Ownership
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Vanda Pharmaceuticals VP and Chief People Officer Howell Scott Laverne filed an initial ownership report showing a mix of stock options, restricted stock units and common shares. His derivative holdings include options covering 77,500 shares at $7.05 per share expiring on February 15, 2033, along with additional grants at higher exercise prices and earlier expiration dates. He also reports multiple direct common stock positions, including one line of 100,000 shares, plus 9,620 shares of common stock held indirectly through a foundation controlled by him and his family members.
Positive
- None.
Negative
- None.
Insider Trade Summary
10 transactions reported
Mixed
10 txns
Insider
Howell Scott Laverne
Role
VP and Chief People Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| 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 | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 77,500 shares (Direct);
Common Stock — 99,360 shares (Direct);
Common Stock — 9,620 shares (Indirect, By Foundation)
Footnotes (1)
- Represents shares of common stock underlying a time-based restricted stock unit award ("RSU"). The RSU will vest in full on March 1, 2027, provided the Reporting Person remains continuously employed by the Issuer through such vesting date. Vested shares will be delivered on the First Permissible Trading Day (as defined in the RSU Agreement) that occurs on or after the day when the RSUs vest. Represents shares of common stock underlying an RSU award. One-half of the RSU will vest on March 1, 2027, and the remaining one-half of the RSU will vest on March 1, 2028, provided the Reporting Person remains continuously employed by the Issuer through each vesting date. Vested shares will be delivered on the First Permissible Trading Day that occurs on or after the day when the RSUs vest. Represents shares of common stock underlying an RSU award. The RSU vests as follows: 1/3 will vest on March 1, 2027, 1/3 will vest on March 1, 2028, and the remaining 1/3 will vest on March 1, 2029, provided the Reporting Person remains continuously employed by the Issuer through each annual vesting date. Vested shares will be delivered on the First Permissible Trading Day that occurs on or after the day when the RSUs vest. Represents shares of common stock underlying an RSU award. The RSU vests in four (4) equal annual installments with the first annual vest taking place on March 1, 2027, provided the Reporting Person remains continuously employed by the Issuer through each annual vesting date. Vested shares will be delivered on the First Permissible Trading Day that occurs on or after the day when the RSUs vest. Represents securities held by a foundation controlled by the Reporting Person and his family members. The option vests in equal monthly installments on the 16th day of each month through February 16, 2027, provided the Reporting Person provides continuous service to the Issuer through the applicable vesting date. The option is fully vested and immediately exercisable.
Key Figures
Largest stock option: 77,500 underlying shares at $7.05
Second stock option: 61,200 underlying shares at $11.36
Third stock option: 28,600 underlying shares at $20.28
+3 more
6 metrics
Largest stock option
77,500 underlying shares at $7.05
Exercise price $7.05; expires February 15, 2033
Second stock option
61,200 underlying shares at $11.36
Exercise price $11.36; expires February 27, 2032
Third stock option
28,600 underlying shares at $20.28
Exercise price $20.28; expires February 23, 2031
Fourth stock option
25,000 underlying shares at $11.32
Exercise price $11.32; expires February 25, 2030
Direct common stock block
100,000 shares
Common Stock, direct ownership line item
Foundation-held shares
9,620 shares
Common Stock, indirect ownership by foundation
Key Terms
restricted stock unit award, First Permissible Trading Day, continuously employed, Stock Option (Right to Buy), +1 more
5 terms
restricted stock unit award financial
"Represents shares of common stock underlying a time-based restricted stock unit award ("RSU")."
A restricted stock unit award is a promise by a company to give an employee a specified number of company shares at a future date if certain conditions are met, such as staying with the company or hitting performance goals. For investors, these awards matter because they can increase the total number of shares outstanding when converted, diluting existing holders, and they align employees’ incentives with shareholders’ interests much like giving a rising bonus that becomes real only after conditions are satisfied.
First Permissible Trading Day financial
"Vested shares will be delivered on the First Permissible Trading Day that occurs on or after the day when the RSUs vest."
continuously employed financial
"provided the Reporting Person remains continuously employed by the Issuer through such vesting date."
Stock Option (Right to Buy) financial
"security_title": "Stock Option (Right to Buy)""
time-based restricted stock unit award financial
"Represents shares of common stock underlying a time-based restricted stock unit award ("RSU")."
FAQ
What does the VNDA Form 3 filing by Howell Scott Laverne show?
The Form 3 shows Howell Scott Laverne’s initial ownership in Vanda Pharmaceuticals, including stock options, restricted stock units, and several direct and indirect common stock positions as of April 1, 2026, giving transparency into his equity-based alignment with shareholders.
What direct common stock holdings does Howell Laverne report in VNDA?
He reports several direct common stock positions, including a line showing 100,000 shares held directly. Additional direct entries such as 99,360 shares and 75,000 shares reflect multiple blocks of VNDA stock reported under his direct ownership on the Form 3.
What indirect VNDA holdings are reported through a foundation?
The filing notes 9,620 shares of Vanda common stock held indirectly, described as securities held by a foundation controlled by Howell Scott Laverne and his family members, indicating a portion of his economic interest is structured through a family-related foundation entity.
What other VNDA stock options does Howell Laverne hold besides the largest grant?
He also reports options linked to 61,200 shares at $11.36 per share expiring February 27, 2032, 28,600 shares at $20.28 expiring February 23, 2031, and 25,000 shares at $11.32 expiring February 25, 2030, all tied to Vanda common stock.
Do the VNDA RSU awards for Howell Laverne have time-based vesting conditions?
Yes. Footnotes explain multiple RSU awards vest on future dates such as March 1, 2027, March 1, 2028, and March 1, 2029, contingent on his continuous employment, with vested shares delivered on the first permissible trading day after each vesting date.