Day One Biopharmaceuticals (DAWN) exec equity canceled at $21.50 cash price
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Day One Biopharmaceuticals executive Michael Vasconcelles disposed of all company equity holdings in connection with the closing of a cash merger. The filing shows that, upon the merger with Servier, each share of Common Stock was purchased or converted into the right to receive $21.50 in cash per share under the merger agreement.
Vasconcelles returned 4,397 Common shares to the issuer and all outstanding equity awards were canceled for cash. This included 106,875 and 226,000 Restricted Stock Units, and stock options for 171,000 and 346,000 shares with exercise prices of $11.16 and $6.64, respectively. Following these dispositions, his reported holdings in these securities are zero.
Positive
- None.
Negative
- None.
Insights
Executive equity fully cashed out as part of an all-cash merger.
The transactions reflect a standard equity clean-up at the closing of an all-cash acquisition. Each Day One Biopharmaceuticals Common share was exchanged for $21.50 in cash, while RSUs and stock options were canceled for cash based on the same merger price.
For Michael Vasconcelles, this Form 4 shows that all 4,397 shares, 332,875 RSUs, and 517,000 options were disposed of to the issuer, leaving no reported remaining equity position. Economically, he received cash consideration rather than continuing as a shareholder, consistent with the company becoming a wholly owned subsidiary of Servier.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
VASCONCELLES MICHAEL
Role
Head of Research and Dev.
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (right to buy Common Stock) | 346,000 | $0.00 | -- |
| Disposition | Stock Option (right to buy Common Stock) | 171,000 | $0.00 | -- |
| Disposition | Restricted Stock Unit (RSU) | 226,000 | $0.00 | -- |
| Disposition | Restricted Stock Unit (RSU) | 106,875 | $0.00 | -- |
| Disposition | Common Stock | 4,397 | $0.00 | -- |
Holdings After Transaction:
Stock Option (right to buy Common Stock) — 0 shares (Direct, null);
Restricted Stock Unit (RSU) — 0 shares (Direct, null);
Common Stock — 0 shares (Direct, null)
Footnotes (1)
- On March 6, 2026, Servier Pharmaceuticals LLC, a Delaware limited liability company ("Parent"), Servier Detroit Inc., a Delaware corporation and a wholly owned subsidiary of Parent ("Merger Sub"), Day One Biopharmaceuticals, Inc., a Delaware corporation (the "Company"), and Servier S.A.S., a French societe par actions simplifiee, solely as a guarantor, entered into an Agreement and Plan of Merger (the "Merger Agreement"). Pursuant to the Merger Agreement, the Merger Sub merged with and into the Company (such merger and the other transactions contemplated by the Merger Agreement, the "Merger") with the Company surviving the Merger as a wholly owned subsidiary of the Parent. Upon the closing of the Merger on April 23, 2026, each issued and outstanding share of the Company's Common Stock, par value $0.0001 per share, was either (x) purchased for $21.50 per share (the "Offer Price"), net to the seller in cash, without interest, and subject to applicable withholding taxes, on the terms and conditions set forth in the Merger Agreement, or (y) automatically converted into the right to receive the Offer Price (the "Merger Consideration"), net to the seller in cash, without interest, and subject to applicable withholding taxes, on the terms and conditions set forth in the Merger Agreement. The option vests as to 1/4th of the total grant on June 16, 2026, and 1/48th of the total grant will vest on each monthly anniversary thereafter, subject to the Reporting Person's provision of service to the Issuer on each option vesting date. Immediately prior to the effective time of the Merger, all outstanding unvested stock options and unvested restricted stock units became fully vested. At the effective time of the Merger, each stock option and restricted stock unit was canceled and converted into the right to receive an amount in cash equal to the Merger Consideration (or, in the case of stock options, the difference between the Merger Consideration and the applicable per share exercise price), less any applicable withholding taxes. The option vests as to 1/48th of the total shares monthly, commencing February 28, 2026, subject to the Reporting Person's provision of service to the Issuer on each vesting date. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock upon settlement for no consideration. The RSUs vest as to 25% of the total award on August 15, 2026, and 1/12th of the remaining RSUs vest in quarterly installments thereafter on November 15, February 15, May 15 and August 15, subject to the Reporting Person's provision of service to the Issuer on each RSU vesting date. RSUs do not expire; they either vest or are canceled prior to the RSU vesting date. The RSUs vest as to 1/16th of the total award in quarterly installments on February 15, May 15, August 15 and November 15, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
Key Figures
Common shares disposed: 4,397 shares
RSUs canceled (grant 1): 106,875 units
RSUs canceled (grant 2): 226,000 units
+3 more
6 metrics
Common shares disposed
4,397 shares
Common Stock returned to issuer in merger on April 23, 2026
RSUs canceled (grant 1)
106,875 units
Restricted Stock Units converted to cash at merger consideration
RSUs canceled (grant 2)
226,000 units
Restricted Stock Units converted to cash at merger consideration
Stock options canceled (grant 1)
171,000 options at $11.16
Options on Common Stock canceled for cash at $21.50 merger price
Stock options canceled (grant 2)
346,000 options at $6.64
Options on Common Stock canceled for cash at $21.50 merger price
Merger cash price
$21.50 per share
Cash consideration for each common share under merger agreement
Key Terms
Agreement and Plan of Merger, Merger Consideration, Restricted Stock Unit (RSU), Offer Price, +1 more
5 terms
Agreement and Plan of Merger regulatory
"entered into an Agreement and Plan of Merger (the "Merger Agreement")."
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
Merger Consideration financial
"automatically converted into the right to receive the Offer Price (the "Merger Consideration"),"
Merger consideration is the total payment a company or buyer offers to shareholders of a target company in exchange for combining the two businesses, and can include cash, shares in the surviving company, debt assumption, or a mix of these. Investors care because the form and amount affect the deal’s value, tax consequences, immediate cash received versus future ownership, and the risk and upside of holding new shares — similar to choosing between cash now or stock that could grow later.
Restricted Stock Unit (RSU) financial
"Each restricted stock unit ("RSU") represents a contingent right to receive one share"
A restricted stock unit (RSU) is a promise from a company to give an employee company shares (or cash equal to their value) at a future date if certain conditions are met, such as staying with the company or hitting performance targets. For investors, RSUs matter because when they convert into actual shares they increase the number of shares available and can create selling pressure as employees cash out—think of them as a future paycheck paid in company stock.
Offer Price financial
"purchased for $21.50 per share (the "Offer Price"), net to the seller in cash,"
The offer price is the amount per share that a company or underwriter sets when selling new stock or bonds to investors, like the price tag on an item in a store. It matters because it determines how much investors must pay, shapes the initial market value of the security, and influences whether demand will be strong or weak — which affects early trading performance and potential returns.
stock option financial
"each stock option and restricted stock unit was canceled and converted into the right to receive an amount in cash"
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.
FAQ
What does the DAWN Form 4 filing report for Michael Vasconcelles?
The Form 4 shows Michael Vasconcelles disposed of all his Day One Biopharmaceuticals equity. His Common shares, RSUs, and stock options were canceled or exchanged for cash at the merger closing, leaving him with no reported remaining holdings.
What happened to Michael Vasconcelles’ DAWN stock options in the merger?
All of his Day One Biopharmaceuticals stock options were canceled at closing and converted into cash. The cash equaled the $21.50 merger price minus each option’s exercise price, paid for the underlying shares, subject to any required tax withholdings.
How were DAWN restricted stock units (RSUs) treated at the merger closing?
Immediately before the merger, all unvested RSUs became fully vested. At the effective time, each RSU was canceled and converted into a cash payment equal to the $21.50 merger consideration per underlying share, less applicable tax withholdings, instead of delivering actual shares.
Did Michael Vasconcelles retain any DAWN equity after the Servier transaction?
No. The Form 4 shows his post-transaction share balances for the reported securities are zero. His Common shares, RSUs, and options were all disposed of to the issuer and converted into cash consideration as part of the completed merger with Servier.