DAWN Form 4: Director options reset to $8.99 exercise price
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Day One Biopharmaceuticals (DAWN): Form 4 discloses option repricing by a director. On 11/06/2025, previously granted and fully vested stock options with exercise prices ranging from $12.69 to $16.29 were canceled and replaced at a new exercise price of $8.99, the Nasdaq closing price on the effective date.
The repriced grants cover multiple tranches with original expirations unchanged (ranging from 05/25/2031 to 05/22/2034). Exercising at the new price requires service through the “Retention Period,” which ends on the earlier of 12 months from the effective date or a Corporate Transaction, with specified exceptions. The transactions were exempt under Rule 16b-6(d) and Rule 16b-3.
Positive
- None.
Negative
- None.
Insider Trade Summary
10 transactions reported
Mixed
10 txns
Insider
Ramasastry Saira
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (right to buy Common Stock) | 40,000 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy Common Stock) | 40,000 | $0.00 | -- |
| Disposition | Stock Option (right to buy Common Stock) | 47,581 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy Common Stock) | 47,581 | $0.00 | -- |
| Disposition | Stock Option (right to buy Common Stock) | 28,700 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy Common Stock) | 28,700 | $0.00 | -- |
| Disposition | Stock Option (right to buy Common Stock) | 37,500 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy Common Stock) | 37,500 | $0.00 | -- |
| Disposition | Stock Option (right to buy Common Stock) | 32,335 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy Common Stock) | 32,335 | $0.00 | -- |
Holdings After Transaction:
Stock Option (right to buy Common Stock) — 0 shares (Direct)
Footnotes (1)
- On October 7, 2025, the Issuer's Board of Directors approved an option repricing (the "Repricing") whereby the Reporting Person's options were repriced on November 6, 2025 (the "Effective Date") with a new exercise price of $8.99 (if lower than the original exercise price), the closing price on Nasdaq as of the Effective Date. In order to exercise the repriced options at the new exercise price, the Reporting Person is required to remain in service with the Issuer through the Retention Period; provided that the additional premium payment will not be required if the Reporting Person's service to the Issuer is terminated by reason of death or Disability (as defined in the Company's 2021 Equity Incentive Plan ("the Plan")). (Continued from Footnote 1) The "Retention Period" commenced on the Effective Date and ends upon the earliest of (i) the 12-month anniversary of the Effective Date and (ii) a Corporate Transaction (as defined in the Plan). All of the other terms of the options remain unchanged. Such transactions were exempt pursuant to Rule 16b-6(d) and Rule 16b-3 of the Exchange Act, as applicable. The options are fully vested.
FAQ
What did DAWN’s Form 4 report?
A director’s stock options were repriced on 11/06/2025 to an exercise price of $8.99, replacing higher-priced options.
Which option tranches were affected for DAWN?
Multiple tranches originally priced at $16, $16.29, $12.69, and $13.87 were canceled and replaced at $8.99 with the same share counts.
Are the repriced DAWN options vested?
Yes. The filing notes the options are fully vested.
What are the DAWN option expiration dates after repricing?
The original expirations remain: 05/25/2031, 06/20/2032, 06/21/2033, and 05/22/2034.
What conditions apply to exercise at the new $8.99 price?
The holder must remain in service through the Retention Period, ending on the earlier of 12 months from 11/06/2025 or a Corporate Transaction.
Were these DAWN transactions exempt from short-swing profit rules?
Yes. They were reported as exempt under Rule 16b-6(d) and Rule 16b-3.