Cyclerion director reports option for 100,994 shares
Director Heidi Henson reports stock options for 100,994 shares received in the merger that renamed Cyclerion Therapeutics, Inc. as Korsana Biosciences, Inc.
Rhea-AI Filing Summary
Cyclerion Therapeutics, Inc. (CYCN), now named Korsana Biosciences, Inc., reported initial insider holdings for director Heidi Henson. She holds a stock option giving her the right to buy 100,994 shares of common stock at an exercise price of $8.06 per share, expiring June 29, 2036. These options were received in connection with the merger in which the former Korsana Biosciences, Inc. became a wholly owned subsidiary and Cyclerion changed its name to Korsana Biosciences, Inc. The option vests in 36 equal monthly installments from June 18, 2026 through June 18, 2029, subject to her continued service.
Positive
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Negative
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Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
HENSON HEIDI
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock Option (Right to Buy) F1, F2 | -- | -- | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 100,994 contracts (Direct)
Footnotes (2)
- 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 vests in 36 equal monthly installments following June 18, 2026, through June 18, 2029, subject to the Reporting Person's continued service to the Issuer on each such vesting date.
Key Figures
Underlying option shares: 100,994 shares
Option exercise price: $8.06 per share
Option expiration date: June 29, 2036
+4 more
7 metrics
Underlying option shares
100,994 shares
Common stock subject to Heidi Henson’s stock option reported on the Form 3
Option exercise price
$8.06 per share
Exercise price of the reported stock option for 100,994 shares
Option expiration date
June 29, 2036
Expiration of the stock option held by Heidi Henson
Vesting schedule length
36 monthly installments
Option vests in 36 equal monthly installments following June 18, 2026
Merger effective date
September 8, 2026
Effective time of the merger and name change to Korsana Biosciences, Inc.
Vesting period start
June 18, 2026
First vesting date for the option installments, subject to continued service
Vesting period end
June 18, 2029
Final vesting date for the 36 monthly option installments
Key Terms
Effective Time, wholly owned subsidiary, Merger, stock option, +1 more
5 terms
Effective Time regulatory
"Effective as of September 8, 2026 (the "Effective Time"), (i) Cariboos Merger Sub Corp., a wholly owned subsidiary of Cyclerion Therapeutics, Inc."
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.
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.
Merger financial
"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")."
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.
stock option financial
"Represents options to purchase shares of the Issuer's common stock received by the Reporting Person in the Merger"
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
vests in 36 equal monthly installments financial
"This option vests in 36 equal monthly installments following June 18, 2026, through June 18, 2029"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does the Form 3 for CYCN/Korsana Biosciences report for director Heidi Henson?
It reports Heidi Henson’s initial beneficial ownership as a director, consisting of a stock option to purchase 100,994 shares of common stock at $8.06 per share, expiring on June 29, 2036, with vesting over 36 months starting June 18, 2026.
How and when do Heidi Henson’s KRSA (CYCN) stock options vest?
The option vests in 36 equal monthly installments following June 18, 2026, through June 18, 2029, and each installment is subject to Heidi Henson’s continued service to the issuer on the applicable vesting date.
What is the exercise price and expiration date of Heidi Henson’s options at CYCN?
The reported stock option held by Heidi Henson has an exercise price of $8.06 per share and an expiration date of June 29, 2036, covering 100,994 underlying shares of common stock.
How did Heidi Henson receive her options in Korsana Biosciences (CYCN)?
The filing states that the reported options represent options to purchase shares of the issuer’s common stock received in the merger in exchange for options of the pre‑merger Korsana Biosciences, Inc. that she held before the merger.
What corporate merger and name change involving CYCN are disclosed in this Form 3?
Effective September 8, 2026, a two‑step merger made pre‑merger Korsana Biosciences, Inc. a wholly owned subsidiary of Cyclerion Therapeutics, Inc., after which Cyclerion changed its name to “Korsana Biosciences, Inc.”.
Does the Form 3 for CYCN indicate any open-market buys or sells by Heidi Henson?
No. The Form 3 describes holdings of a stock option position and the related merger and vesting terms; it does not report any open‑market purchases or sales of common stock by Heidi Henson.
AI-generated analysis. How Rhea-AI works. Not financial advice.
