Cyclerion CFO lists two new stock option grants
The CFO of Cyclerion Therapeutics, Inc. (now Korsana Biosciences, Inc.) reports merger-exchanged stock option holdings with long-dated expirations and time-based vesting.
Rhea-AI Filing Summary
Cyclerion Therapeutics, Inc. (symbol CYCN), now renamed Korsana Biosciences, Inc. after a two-step merger completed on September 8, 2026, reports the initial beneficial ownership of its Chief Financial Officer, Mark J. Vignola, on a Form 3. His holdings consist of stock options received in the merger in exchange for options of pre-merger Korsana.
Vignola holds options covering 253,415 shares of common stock at an exercise price of $4.15 per share, expiring March 8, 2036, vesting 25% on March 6, 2027 with monthly vesting through March 6, 2030, and additional options covering 394,314 shares at $8.06 per share, expiring June 29, 2036, vesting 25% on June 18, 2027 with monthly vesting through June 18, 2030, in each case subject to his continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Vignola Mark J.
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock Option (Right to Buy) F1, F2 | -- | -- | -- |
| holding | Stock Option (Right to Buy) F1, F3 | -- | -- | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 647,729 contracts (Direct)
Footnotes (3)
- F1. Effective as of September 8, 2026 (the "Effective Time"), (i) Cariboos Merger Sub Corp., a wholly owned subsidiary of Cyclerion Therapeutics, Inc. ("Cyclerion"), merged with and into Korsana Biosciences, Inc. ("Pre-Merger Korsana"), with Pre-Merger Korsana continuing as a wholly owned subsidiary of Cyclerion and the surviving corporation of the merger (the "First Merger"), and (ii) immediately thereafter, Pre-Merger Korsana merged with and into Cariboos Merger Sub II, LLC, a second wholly owned subsidiary of Cyclerion ("Second Merger Sub"), with Second Merger Sub being the surviving entity of the merger under the name Korsana Biosciences Operating Company, LLC (the "Second Merger" and, together with the First Merger, the "Merger"). At the Effective Time, Cyclerion changed its name to "Korsana Biosciences, Inc." (hereinafter, the "Issuer").
- F2. Represents options to purchase shares of the Issuer's common stock received by the Reporting Person in the Merger in exchange for options of Pre-Merger Korsana held by the Reporting Person prior to the Merger. This option will vest as to 25% on March 6, 2027 and in equal monthly installments thereafter through March 6, 2030, subject to the Reporting Person's continued service to the Issuer on each such vesting date.
- F3. Represents options to purchase shares of the Issuer's common stock received by the Reporting Person in the Merger in exchange for options of Pre-Merger Korsana held by the Reporting Person prior to the Merger. This option will vest as to 25% on June 18, 2027 and in equal monthly installments thereafter through June 18, 2030, subject to the Reporting Person's continued service to the Issuer on each such vesting date.
Key Figures
Underlying shares (option 1): 253,415 shares
Exercise price (option 1): $4.15 per share
Underlying shares (option 2): 394,314 shares
+4 more
7 metrics
Underlying shares (option 1)
253,415 shares
Stock option (right to buy) on common stock held directly by the CFO
Exercise price (option 1)
$4.15 per share
Stock option expiring March 8, 2036
Underlying shares (option 2)
394,314 shares
Second stock option (right to buy) on common stock held directly
Exercise price (option 2)
$8.06 per share
Stock option expiring June 29, 2036
Vesting start (option 1)
25% on March 6, 2027
Remaining 75% vests in equal monthly installments through March 6, 2030
Vesting start (option 2)
25% on June 18, 2027
Remaining 75% vests in equal monthly installments through June 18, 2030
Effective Time of Merger
September 8, 2026
Date the two-step merger closed and Cyclerion adopted the Korsana Biosciences, Inc. name
Key Terms
Stock Option (Right to Buy), underlying security, Effective Time, Merger, +1 more
5 terms
Stock Option (Right to Buy) financial
"The security title is listed as Stock Option (Right to Buy) on common stock"
underlying security financial
"The underlying security title is Common Stock for each option position"
Effective Time regulatory
"Effective as of September 8, 2026 (the "Effective Time"), Cariboos Merger Sub Corp."
The exact clock time when a regulatory filing, approval, or corporate action formally becomes legally active; from that moment the change is binding and can be acted on. Investors care because the effective time marks when ownership, rights, trading rules, or new securities take effect — like a light switch turning on a contract or transaction — which determines when risks, benefits and market reactions begin.
Merger regulatory
"The First Merger and the Second Merger are together referred to as the "Merger""
A merger is when two companies combine into a single business, with ownership and control reorganized so they operate as one entity. For investors it matters because mergers can change the value and risk of holdings—shares may be exchanged, diluted, or rise if the combined company saves costs or gains market power, and the deal often depends on regulatory approval and successful integration like two households joining resources and routines.
wholly owned subsidiary financial
"Cariboos Merger Sub Corp., a wholly owned subsidiary of Cyclerion Therapeutics, Inc."
A wholly owned subsidiary is a company whose entire ownership is held by another company (the parent), so the parent controls decisions, operations, and finances. Think of it as a fully controlled branch that runs as its own legal entity but whose results flow straight into the parent’s financial statements; investors watch these structures because they affect consolidated revenue, risk exposure, and how profits, liabilities, and cash flow are allocated across the corporate group.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does the Form 3 for CYCN/Korsana Biosciences disclose about the CFO’s holdings?
The Form 3 shows Chief Financial Officer Mark J. Vignola holds two stock option grants on common stock, both received in a merger exchange for pre-merger Korsana options, with long-dated expirations and multi-year vesting schedules tied to continued service.
What are the exercise prices and expirations of the CFO’s CYCN stock options?
One option covers shares at an exercise price of $4.15 per share, expiring March 8, 2036. The other covers shares at $8.06 per share, expiring June 29, 2036, both on common stock of the renamed Korsana Biosciences, Inc.
How do Mark Vignola’s CYCN options vest after the merger?
For the $4.15 option, 25% vests on March 6, 2027 with equal monthly installments through March 6, 2030. For the $8.06 option, 25% vests on June 18, 2027 with equal monthly installments through June 18, 2030, all subject to continued service.
AI-generated analysis. How Rhea-AI works. Not financial advice.
