v3.25.1
Insider Trading Arrangements
3 Months Ended
Mar. 31, 2025
shares
Trading Arrangements, by Individual [Table]  
Material Terms of Trading Arrangement

Trading Plans

 

On March 19, 2025, Mariam Sorond, President, Chief Executive Officer and a Director, terminated a “Rule 10b5-1 trading arrangement” (as defined in Item 408 of Regulation S-K) intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) (a “10b5-1 trading plan”) that was previously adopted on August 29, 2024. This 10b5-1 trading plan provided for the potential sale of 45% of the gross shares of common stock to be issued to Ms. Sorond upon the vesting and settlement of her restricted stock units (“RSUs”) with vesting dates of November 29, 2024, February 28, 2025, May 29, 2025, and August 29, 2025. The aggregate number of shares of common stock that were available for sale under this 10b5-1 trading plan after vesting and settlement of her RSUs was 440,075 shares. Prior to its termination, this 10b5-1 trading plan had been expected to remain in place until the earlier of (i) September 30, 2025 and (ii) the date on which all transactions under such plan were completed.

On March 21, 2025, Mariam Sorond adopted a 10b5-1 trading plan which provides for the potential sale of 50% of the gross shares of common stock to be issued to Ms. Sorond upon the vesting and settlement of certain of her equity grants that were awarded to her by the Company. The maximum aggregate number of shares of common stock potentially available for sale under this 10b5-1 trading plan after vesting and settlement of her equity grants is 790,734 shares, consisting of 290,734 shares subject to time-based RSUs and 500,000 shares subject to a performance-based award, which will vest only upon the achievement of specified performance criteria. Pursuant to its terms, this 10b5-1 trading plan is expected to remain in place until the earlier of (i) December 31, 2025 and (ii) the date on which all transactions under such plan are completed.

No other officers (as defined in Rule 16a-1(f) of the Exchange Act) or directors adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement” (as such terms are defined in Item 408 of Regulation S-K) during the fiscal quarter ended March 31, 2025.

Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Mariam Sorond [Member]  
Trading Arrangements, by Individual [Table]  
Name Mariam Sorond
Title President, Chief Executive Officer and a Director
Rule 10b5-1 Arrangement Adopted true
Adoption Date March 21, 2025
Rule 10b5-1 Arrangement Terminated true
Termination Date March 19, 2025
Trading Arrangement Expiration Date December 31, 2025
Aggregate Available 790,734
Restricted Stock Units (RSUs) [Member] | Mariam Sorond [Member]  
Trading Arrangements, by Individual [Table]  
Aggregate Available 440,075
Time Based Restricted Stock Units (RSUs) [Member] | Mariam Sorond [Member]  
Trading Arrangements, by Individual [Table]  
Aggregate Available 290,734
Performance Shares [Member] | Mariam Sorond [Member]  
Trading Arrangements, by Individual [Table]  
Aggregate Available 500,000