VirnetX Holding Corp. (VHC) CEO Kendall Larsen, his wife and two senior executives recently acquired restricted stock units and options to purchase common stock of the patent licensing that won a $625.6 million award from Apple Inc. earlier this year.
Larsen acquired 26,667 restricted stock units which represent a right to receive a common shares. That brings his total to 6,276,376 shares, according to a Form 4 filing with the Securities and Exchange Commission. His stake is worth $32.3 million based on the $5.15 a share closing price of VirnetX today.
Shares of VirnetX gained 36 cents or 7.5% to $5.15 today. They’ve traded between $1.95 and $9.64 over the past year.
He also acquired 40,000 options to purchase common stock at an exercise price of $4.74. The options are currently priced below the market price.
Larsen’s wife Kathleen Sheehan acquired 13,333 restricted stock units, which brings her total holdings to 494,453. She also acquired options to purchase 20,000 common shares at the $4.74 exercise price.
The Kathleen Sheehan Revocable Trust also owns 613,530 shares of VirnetX, while the K2 Investment Fund LLC owns 300,000 shares
VirnetX Chief Technology Officer Robert Short III acquired 13,333 restricted stock units of VirnetX bringing his total holdings to 71,274 shares. The Short Revocable Living Trust owns another 50,332 shares. He also acquired 20,000 options to purchase shares at the $4.74 exercise price.
Richard Nance, VirnetX chief financial officer, acquired 2,667 restricted stock units, bringing his total holdings to 13,404. He also acquired 4,000 options to purchase stock at the $4.74 conversion price.
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