04/28/2026 | Press release | Distributed by Public on 04/28/2026 14:24
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FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) | ||
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1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Stock Option (right to buy) | $6.28 | 04/28/2026 | D | 1,068,005 | (5) | 06/09/2031 | Common Stock | 1,068,005 | (5) | 0 | D | ||||
| Stock Option (right to buy) | $6.28 | 04/28/2026 | D | 837,602 | (5) | 06/09/2031 | Common Stock | 837,602 | (5) | 0 | D | ||||
| Stock Option (right to buy) | $19.97 | 04/28/2026 | D | 120,000 | (5) | 09/28/2032 | Common Stock | 120,000 | (5) | 0 | D | ||||
| Stock Option (right to buy) | $31.03 | 04/28/2026 | D | 245,065 | (5) | 01/03/2033 | Common Stock | 245,065 | (5) | 0 | D | ||||
| Stock Option (right to buy) | $56.15 | 04/28/2026 | D | 255,965 | (5) | 01/02/2034 | Common Stock | 255,965 | (5) | 0 | D | ||||
| Stock Option (right to buy) | $15 | 04/28/2026 | D | 810,102 | (5) | 02/03/2032 | Common Stock | 810,102 | (5) | 0 | I(6) | By trust | |||
| Restricted Stock Unit | (7) | 04/28/2026 | D | 55,459 | (8) | (8) | Common Stock | 55,459 | (8) | 0 | D | ||||
| Restricted Stock Unit | (7) | 04/28/2026 | D | 167,973 | (8) | (8) | Common Stock | 167,973 | (8) | 0 | D | ||||
| Restricted Stock Unit | (7) | 04/28/2026 | D | 208,333 | (8) | (8) | Common Stock | 208,333 | (8) | 0 | D | ||||
| Performance-based Restricted Stock Unit | (7) | 04/28/2026 | A | 147,745 | (8) | (8) | Common Stock | 147,745 | (8) | 147,745 | D | ||||
| Performance-based Restricted Stock Unit | (7) | 04/28/2026 | D | 147,745 | (8) | (8) | Common Stock | 147,745 | (8) | 0 | D | ||||
| Performance-based Restricted Stock Unit | (7) | 04/28/2026 | A | 284,388 | (8) | (8) | Common Stock | 284,388 | (8) | 284,388 | D | ||||
| Performance-based Restricted Stock Unit | (7) | 04/28/2026 | D | 284,388 | (8) | (8) | Common Stock | 284,388 | (8) | 0 | D | ||||
| Performance-based Restricted Stock Unit | (7) | 04/28/2026 | A | 138,888 | (8) | (8) | Common Stock | 138,888 | (8) | 138,888 | D | ||||
| Performance-based Restricted Stock Unit | (7) | 04/28/2026 | D | 138,888 | (8) | (8) | Common Stock | 138,888 | (8) | 0 | D | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Elghandour Rami C/O ARCELLX, INC 800 BRIDGE PARKWAY REDWOOD CITY, CA 94065 |
X | SEE REMARKS | ||
| /s/ Michelle Gilson, as Attorney-in-Fact | 04/28/2026 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | Pursuant to the Agreement and Plan of Merger, dated February 22, 2026 (the "Merger Agreement"), by and among Arcellx, Inc. ("Company"), Gilead Sciences, Inc. ("Parent"), and Ravens Sub, Inc., a wholly owned subsidiary of Parent ("Purchaser"), the shares of common stock of Company that were tendered to Purchaser prior to the expiration time of the offer were exchanged for (x) $115.00 per share ("Closing Amount"), net to the seller in cash, without interest, subject to withholding tax, plus (y) one contractual contingent value right (a "CVR"), which represents the right to receive one contingent payment of $5.00 per CVR in cash, without interest, and subject to any withholding tax, pursuant to the terms and subject to the conditions of a contingent value rights agreement. After completion of the tender offer, pursuant to the terms of the Merger Agreement, Purchaser merged with and into Company (the "Merger"), with Company surviving the Merger as a wholly owned subsidiary of Parent. |
| (2) | Shares held by a spousal lifetime access non-grantor trust, of which the Reporting Person's spouse is the beneficiary and for which the Reporting Person may be deemed to have Section 16 beneficial ownership. The Reporting Person disclaims beneficial ownership except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such shares for Section 16 or any other purpose. |
| (3) | Shares held by a spousal lifetime access non-grantor trust of which the Reporting Person is a beneficiary and for which the Reporting Person may be deemed to have Section 16 beneficial ownership. The Reporting Person disclaims beneficial ownership except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such shares for Section 16 or any other purpose. |
| (4) | Shares held by a family charitable foundation of which the Reporting Person serves as the President. The Reporting Person has voting and investment power over all securities owned by the foundation. |
| (5) | Pursuant to the Merger Agreement, each outstanding option to purchase shares of Common Stock (a "Company Option"), whether or not vested, and which had a per share exercise price that was less than the Closing Amount, was canceled and converted into the right of the holder to receive (i) (subject to any applicable withholding taxes) a lump-sum cash payment equal to (x) the excess (if any) of (a) the Closing Amount over (b) the per share exercise price subject to such Company Option, multiplied by (y) the total number of shares subject to such Company Option immediately prior to the effective time of the Merger, and (ii) one (1) CVR for each share subject to such Company Option immediately prior to the effective time of the Merger. |
| (6) | By trust |
| (7) | Each restricted stock unit represents a contingent right to receive one share of Company Common Stock. |
| (8) | Pursuant to the Merger Agreement, each outstanding restricted stock unit (a "Company RSU"), whether or not vested, was canceled and converted into the right of the holder to receive (i) (subject to any applicable withholding taxes) a lump-sum cash payment equal to (x) the Closing Amount, multiplied by (y) the total number of shares subject to such Company RSU immediately prior to the effective time of the Merger (with the number of shares underlying any Company RSUs that were subject to performance-based vesting conditions determined based on achievement of actual performance in connection with the Merger, as determined by the Company's board of directors or a committee thereof), and (ii) one (1) CVR for each share subject to such Company RSU immediately prior to the effective time of the Merger. |
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Remarks: President, CEO and Chairman of the Board |
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