Cingulate Inc. (CING) awards 100,000 stock options with FDA-linked trigger
Rhea-AI Filing Summary
Cingulate Inc. granted EVP & Chief Commercial Officer Bryan Wade Downey two stock option awards covering a total of 100,000 shares of common stock, with an exercise price of $4.43 per share and an expiration date of July 16, 2036.
One option for 67,000 shares vests 25% on March 31, 2027, with the remaining shares vesting in substantially equal monthly installments over the following 36 months. A second option for 33,000 shares follows the same vesting schedule but only becomes exercisable if the issuer’s NDA for CTx-1301 is approved by the FDA during 2027; if that NDA is not approved during 2027, this option, including any vested portion, terminates.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Downey Bryan Wade
Role
EVP & Chief Commercial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (right to Buy) F1 | 67,000 | $0.00 | $0.00 |
| Grant/Award | Stock Option (right to Buy) F1, F2, F3 | 33,000 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Option (right to Buy) — 100,000 shares (Direct)
Footnotes (3)
- F1. The option vests as follows: 25% on March 31, 2027 and the remaining shares in substantially equal monthly installments over the 36-month period following the initial vesting date.
- F2. Vested option only becomes exercisable if the Issuer's NDA for CTx-1301 is approved by the FDA during 2027.
- F3. If the Issuer's NDA for CTx-1301 is not approved by the FDA during 2027, the option, including any vested portion, shall terminate.
Key Figures
Option grant 1 underlying shares: 67,000 shares
Option grant 2 underlying shares: 33,000 shares
Exercise price: $4.43 per share
+3 more
6 metrics
Option grant 1 underlying shares
67,000 shares
Stock Option (right to Buy) granted to EVP & CCO
Option grant 2 underlying shares
33,000 shares
Performance-conditioned Stock Option (right to Buy)
Exercise price
$4.43 per share
Conversion or exercise price for both option grants
Option expiration
July 16, 2036
Expiration date for both stock option awards
Initial vesting date
March 31, 2027
25% of option vests on this date
Remaining vesting period
36 months
Remaining shares vest in substantially equal monthly installments
Key Terms
Stock Option (right to Buy), vests, New Drug Application (NDA), FDA
4 terms
Stock Option (right to Buy) financial
"security_title is reported as Stock Option (right to Buy)"
vests financial
"The option vests as follows: 25% on March 31, 2027 and the remaining"
New Drug Application (NDA) medical
"Vested option only becomes exercisable if the Issuer's NDA for CTx-1301"
A new drug application (NDA) is a formal request submitted to regulatory authorities to gain approval for a new medication to be sold and used by the public. It is a comprehensive review process that examines the drug’s safety, effectiveness, and manufacturing quality. For investors, an NDA approval can signal a potential breakthrough product and influence a company's stock value.
FDA medical
"approved by the FDA during 2027"
The FDA is the U.S. federal agency that evaluates and approves medical drugs, devices, biological therapies and certain foods; think of it as the gatekeeper that decides whether a medical product is safe and effective for patients. For investors, FDA decisions determine whether a company can sell a product, affect expected revenue and introduce regulatory risk, so approvals, rejections or safety warnings can quickly move a company's valuation and stock price.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What stock options did Cingulate Inc. (CING) grant to Bryan Wade Downey?
Cingulate granted EVP & Chief Commercial Officer Bryan Wade Downey 100,000 stock options at an exercise price of $4.43 per share. These cover 67,000 and 33,000 underlying common shares and expire on July 16, 2036, subject to time-based and performance-related conditions.
When do Bryan Downey’s new Cingulate Inc. (CING) stock options expire?
Both option grants reported for Bryan Wade Downey share an expiration date of July 16, 2036. This expiration applies to the 67,000-share time-based option and the 33,000-share option that is additionally conditioned on FDA approval of the CTx-1301 NDA in 2027.
Are Bryan Downey’s newly granted CING stock options immediately exercisable?
No, the options are not immediately exercisable. The 67,000-share grant vests starting March 31, 2027, while the 33,000-share grant both follows that vesting schedule and requires FDA approval of the issuer’s CTx-1301 NDA during 2027 before becoming exercisable.
What regulatory milestone affects Bryan Downey’s 33,000 CING performance-linked options?
Exercisability of the 33,000-share option depends on approval of the issuer’s New Drug Application (NDA) for CTx-1301 by the FDA during 2027. Without that approval in 2027, the entire option, even vested portions, terminates.