DAWN adjusts COO/CFO stock option strikes to $8.99 effective Nov 6, 2025
Rhea-AI Filing Summary
Day One Biopharmaceuticals (DAWN) filed a Form 4 showing an option repricing for its COO and CFO. On November 6, 2025, multiple stock option grants held by the reporting person were repriced to an exercise price of $8.99 if lower than the original price, following a Board approval on October 7, 2025.
The filing lists prior grants adjusted from higher strikes, including 497,667 underlying shares previously at $16 (fully vested), 151,000 at $14.26, 116,000 at $23.41, 162,000 at $14.44, and 162,000 at $11.87. The revised entries show corresponding grants at $8.99 with the same underlying share counts. Vesting terms remain unchanged, such as 2.0833% monthly with full vest by January 18, 2026, and multiple 1/48th monthly schedules starting on specified dates.
To exercise at the new price, continued service is required through the “Retention Period,” which runs from the effective date until the earlier of 12 months or a Corporate Transaction, with an exception for death or Disability under the plan.
Positive
- None.
Negative
- None.
Insights
Administrative repricing to $8.99 with service-based conditions; neutral impact.
The filing details a Board-approved option repricing effective November 6, 2025, resetting multiple grants to an exercise price of $8.99 when above that level. The underlying share counts for each grant are unchanged, and vesting schedules remain intact per each grant’s original terms.
Exercisability at the new price requires the reporting person to remain in service through the Retention Period, defined to end on the earlier of 12 months after the effective date or a Corporate Transaction, with an exception for death or Disability. These transactions are cited as exempt under Rule 16b‑6(d) and Rule 16b‑3.
Because no issuance or cash proceeds are described here, the near‑term impact hinges on continued service and future exercise decisions. Subsequent company filings may detail any further administrative or compensation updates.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (right to buy Common Stock) | 497,667 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy Common Stock) | 497,667 | $0.00 | -- |
| Disposition | Stock Option (right to buy Common Stock) | 151,000 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy Common Stock) | 151,000 | $0.00 | -- |
| Disposition | Stock Option (right to buy Common Stock) | 116,000 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy Common Stock) | 116,000 | $0.00 | -- |
| Disposition | Stock Option (right to buy Common Stock) | 162,000 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy Common Stock) | 162,000 | $0.00 | -- |
| Disposition | Stock Option (right to buy Common Stock) | 162,000 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy Common Stock) | 162,000 | $0.00 | -- |
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. The option vests as to 2.0833% of the total shares monthly, with 100% of the total shares vested on January 18, 2026, subject to the Reporting Person's provision of service to the Issuer on each vesting date. The option vests as to 1/48th of the total shares monthly, commencing February 17, 2023, subject to the Reporting Person's provision of service to the Issuer on each vesting date. The option vests as to 1/48th of the total shares monthly, commencing February 5, 2024, subject to the Reporting Person's provision of service to the Issuer on each vesting date. The option vests as to 1/48th of the total shares monthly, commencing February 15, 2025, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
