Bruce Culleton, Chief Executive Officer and Director of ProKidney Corp., filed a Form 4 on November 3, 2026, disclosing the acquisition of a performance-based employee stock option covering 500,000 shares of Class A Common Stock following the board's certification of a performance goal on November 2, 2026.

Key Highlights

  • Security acquired: Employee stock option (right to buy) covering 500,000 shares of Class A Common Stock, with an exercise price of $1.69 per share.
  • Performance certification: ProKidney Corp.'s board of directors certified achievement of the performance goal at 100% on November 2, 2026.
  • Original grant date: The option was originally granted on December 3, 2023.
  • Partial vesting on certification date: 25% of the options (125,000 shares) vested on November 2, 2026; the remaining 75% is subject to time-based vesting.
  • Remaining vesting schedule: 125,000 shares vest on each of February 15, 2027, May 15, 2027, and August 15, 2027.
  • Expiration date: The option expires on December 3, 2033.
  • Price of derivative security: $0, as reported in the filing.

ProKidney Board Certifies Performance Goal, Triggering CEO Option Vesting

According to the Form 4 filed with the SEC on November 3, 2026, Bruce Culleton, who serves as both Chief Executive Officer and Director of ProKidney Corp. (NASDAQ:PROK), reported the acquisition of a performance-based employee stock option. The transaction date is listed as November 2, 2026, and the filing covers non-derivative and derivative securities under Section 16(a) of the Securities Exchange Act of 1934.

The filing discloses that the option, originally granted on December 3, 2023, became partially exercisable after the company's board of directors certified achievement of the underlying performance goal at 100% on November 2, 2026. The option carries an exercise price of $1.69 per share and covers 500,000 shares of Class A Common Stock, with an expiration date of December 3, 2033. The price of the derivative security is reported as $0. Following the reported transaction, Culleton beneficially owns 500,000 derivative securities directly.

As described in the filing's explanation of responses, the options are subject to time-based vesting requirements in addition to the performance condition already met. Specifically, 25% vested on November 2, 2026, and the remaining 75% is to vest in equal installments of 125,000 shares on each of February 15, 2027, May 15, 2027, and August 15, 2027. The form was filed by one reporting person and signed by Todd Girolamo as attorney in fact on November 3, 2026.

What Was Disclosed

Bruce Culleton, CEO and Director of ProKidney Corp., disclosed the acquisition of a performance-based stock option for 500,000 shares of Class A Common Stock at $1.69 per share, following board certification of a performance goal at 100% on November 2, 2026, with vesting occurring in stages through August 2027.