Dina Ciarimboli, CM Life Sciences III Inc.'s General Counsel and Secretary, has just filed an initial statement of beneficial ownership where 156,750 shares of CM Life Sciences III Inc. were declared. This form is usually filed as a prelude to receiving options or buying company shares, so there may be more to come from Ciarimboli. Ciarimboli operates out of Cambridge,, MA. Some additional info was provided as follows:
One-fourth of the shares underlying this option vest and become exercisable on April 8, 2022, with the remainder vesting in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous service as of each vesting date.
Represents the right to acquire 42,946 shares of the Issuer's Common Stock (the "Earn-out Shares"), (i) 30,062 of which will be released from escrow if the value weighted average price ("VWAP") for at least 20 of any 30 consecutive trading days following December 17, 2022 is at least $12.50; and (ii) 12,884 of which will be released from such escrow if the VWAP for at least 20 of any 30 consecutive trading days following December 17, 2022 is at least $16.50. Any shares not eligible to be released on or prior to December 17, 2024 will be forfeited and cancelled.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
To receive a free e-mail notification whenever CM Life Sciences III Inc. makes a similar move, sign up!