Paul A. Bunn - Mar 11, 2024 Form 4 Insider Report for Verastem, Inc. (VSTM)

Role: Director
Signature: /s/ Daniel Calkins, Attorney in Fact
Stock symbol: VSTM
Transactions as of: Mar 11, 2024
Transactions value $: $0
Form type: 4
Date filed: 3/13/2024, 06:18 PM
Previous filing: May 16, 2023
Next filing: Jun 20, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	VSTM	Stock Option (right to buy)	Disposed to Issuer		-6.11K	-100%		0	Mar 11, 2024	Common Stock	6.11K	$53.16	Direct	F1, F2
transaction	VSTM	Stock Option (right to buy)	Award		+6.11K			6.11K	Mar 11, 2024	Common Stock	6.11K	$11.44	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On March 11, 2024, the Issuer cancelled, pursuant to the Issuer's option exchange program, certain eligible unexercised options with an exercise price greater than $15.00 granted to the Reporting Person. In exchange, the Reporting Person received a grant of 6,113 stock options that will vest in two equal installments over a two-year period from March 11, 2024 (with the number of shares vesting on each vesting date will be rounded down to the nearest whole share, except with respect to the vesting dates on which all remaining unvested shares shall vest), provided the Reporting Person continues to serve as a director of or other service provider to the Issuer on each such vesting date.
F2	The canceled stock option was granted on June 24, 2021, and provided for vesting in twelve equal month installments beginning on the last day of each month over a period from June 2021 to May 2022.

Content

On March 11, 2024, the Issuer cancelled, pursuant to the Issuer's option exchange program, certain eligible unexercised options with an exercise price greater than $15.00 granted to the Reporting Person. In exchange, the Reporting Person received a grant of 6,113 stock options that will vest in two equal installments over a two-year period from March 11, 2024 (with the number of shares vesting on each vesting date will be rounded down to the nearest whole share, except with respect to the vesting dates on which all remaining unvested shares shall vest), provided the Reporting Person continues to serve as a director of or other service provider to the Issuer on each such vesting date.

The canceled stock option was granted on June 24, 2021, and provided for vesting in twelve equal month installments beginning on the last day of each month over a period from June 2021 to May 2022.