Cyclerion (CYCN) CEO uses cashless exercise, forfeits 48,629 options
Rhea-AI Filing Summary
Cyclerion Therapeutics, Inc. reported that President and Chief Executive Officer Regina Margaret Graul exercised an employee stock option for 55,849 shares of common stock at $3.30 per share on August 14, 2026. The option, originally granted on August 5, 2024 under the 2019 Equity Incentive Plan, had its remaining unvested portion fully accelerated by the board on July 17, 2026. The exercise was completed as a cashless exercise, with options to purchase 48,629 shares forfeited to Cyclerion as payment of the full exercise price, and the reported option position reduced to zero following the transaction.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 7,220 shares
Net Buy
3 txns
Insider
Graul Regina Margaret
Role
See Remarks
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Option to Purchase F1 | 55,849 | $0.00 | $0.00 |
| Exercise | Common Stock, no par value F1 | 55,849 | $3.30 | $184K |
| Exercise Price Payment | Common Stock, no par value F2 | 48,629 | $3.79 | $184K |
Holdings After Transaction:
Option to Purchase — 0 shares (Direct);
Common Stock, no par value — 107,523 shares (Direct)
Footnotes (2)
- F1. The Reporting Person was granted an option on August 5, 2024 to purchase up to 55,849 shares of the Corporation's common stock pursuant to the 2019 Equity Incentive Plan, vesting ratably in monthly installments over a 48-month period commencing August 31, 2024 and ending July 31, 2028, provided that the Reporting Person remained employed by Cyclerion Therapeutics, Inc. on such applicable vesting date, subject to certain exemptions. On July 17, 2026, the Issuer's Board of Directors elected to accelerate in full the vesting of all then unvested options and all then unvested restricted shares for the Reporting Person.
- F2. The Reporting Person exercised the option in full on August 14, 2026 and paid for the exercise by means of a cashless exercise, forfeiting options to purchase 48,629 shares as payment to the Issuer for the full exercise price.
Key Figures
Option shares exercised: 55,849 shares
Option exercise price: $3.30 per share
Shares forfeited for exercise payment: 48,629 shares
+3 more
6 metrics
Option shares exercised
55,849 shares
Employee stock option for Cyclerion common stock exercised on August 14, 2026
Option exercise price
$3.30 per share
Exercise or conversion price of the 55,849-share stock option
Shares forfeited for exercise payment
48,629 shares
Options to purchase these shares forfeited as payment for the full exercise price
Original option grant size
55,849 shares
Option granted August 5, 2024 under the 2019 Equity Incentive Plan
Vesting period
48 months
Monthly vesting from August 31, 2024 through July 31, 2028 before acceleration
Vesting acceleration date
July 17, 2026
Board accelerated all then unvested options and restricted shares for the reporting person
Key Terms
cashless exercise, 2019 Equity Incentive Plan, vesting ratably, restricted shares, +1 more
5 terms
cashless exercise financial
"paid for the exercise by means of a cashless exercise, forfeiting options"
A cashless exercise is a way for an option holder to convert stock options into actual shares without paying the purchase price in cash; instead they immediately give up a portion of the newly issued shares to cover the cost and any withholding taxes. Investors care because this process increases the number of shares available and can slightly dilute existing holdings, while also signaling how insiders or employees are realizing compensation without needing cash — similar to paying for a purchase by handing over part of what you just bought.
2019 Equity Incentive Plan financial
"purchase up to 55,849 shares ... pursuant to the 2019 Equity Incentive Plan"
vesting ratably financial
"vesting ratably in monthly installments over a 48-month period"
exercise price financial
"forfeiting options to purchase 48,629 shares as payment ... for the full exercise price"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
FAQ
What did CYCN CEO Regina Graul report in this Form 4 transaction?
Regina Graul exercised an employee stock option for 55,849 CYCN shares at $3.30 per share on August 14, 2026. The transaction reflects an option exercise and related share forfeiture, not an open-market purchase or sale of Cyclerion common stock.
How was the CYCN option exercise by Regina Graul paid for?
The option exercise was paid via a cashless exercise, using options to purchase 48,629 shares as payment to Cyclerion. Those options were forfeited to cover the full exercise price instead of Graul paying cash to the company.
What were the terms of the CYCN stock option exercised by Regina Graul?
The option granted August 5, 2024 covered 55,849 shares of Cyclerion common stock at an exercise price of $3.30 per share. It vested in equal monthly installments over 48 months, from August 31, 2024 through July 31, 2028, before being fully accelerated.
Why were Regina Graul’s CYCN option vesting terms changed before exercise?
On July 17, 2026, Cyclerion’s board accelerated in full all then unvested options and restricted shares for Regina Graul. This acceleration allowed her to exercise the entire 55,849-share option earlier than the original monthly vesting schedule.
AI-generated analysis. How Rhea-AI works. Not financial advice.
