Day One Biopharmaceuticals (DAWN) director’s RSUs and options canceled for cash
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Day One Biopharmaceuticals, Inc. director Habib J. Dable reports dispositions of equity awards back to the company tied to its cash merger. A completed merger with Servier entities converted Day One into a wholly owned subsidiary, with each common share purchased or converted for $21.50 per share in cash.
Immediately before the merger’s effective time, all unvested stock options and restricted stock units became fully vested. At closing, 15,000 RSUs and multiple stock option grants were canceled and converted into cash equal to the Merger Consideration, or for options the spread between $21.50 and each grant’s exercise price, less applicable taxes.
Positive
- None.
Negative
- None.
Insights
Director’s RSUs and options are cashed out in an all-cash merger.
The transactions show Habib J. Dable disposing of RSUs and stock options to the issuer as part of Day One Biopharmaceuticals’ completed merger with Servier. Common shareholders receive $21.50 per share in cash, while equity awards convert into equivalent cash rights.
Footnotes clarify that all unvested awards fully vested immediately before the merger, then were canceled for cash based on the Merger Consideration or, for options, the spread over each exercise price. These are mechanical closing adjustments rather than open-market trades, and they complete the equity compensation treatment at merger close.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Dable Habib J
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (right to buy Common Stock) | 66,660 | $0.00 | -- |
| Disposition | Stock Option (right to buy Common Stock) | 32,335 | $0.00 | -- |
| Disposition | Stock Option (right to buy Common Stock) | 22,500 | $0.00 | -- |
| Disposition | Restricted Stock Unit (RSU) | 15,000 | $0.00 | -- |
Holdings After Transaction:
Stock Option (right to buy Common Stock) — 0 shares (Direct, null);
Restricted Stock Unit (RSU) — 0 shares (Direct, null)
Footnotes (1)
- The option vests as to 1/36th of the total shares on each monthly anniversary, beginning on February 17, 2024, subject to the Reporting Person's provision of service to the Issuer on each vesting date. 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. 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 options are fully vested. The option vests as to 1/12th of the total grant on each monthly anniversary, beginning on July 2, 2025, subject to the Reporting Person's provision of service to the Issuer on each option 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 will vest as to 100% of the award on the earlier of (i) June 2, 2026 and (ii) the date of the Issuer's 2026 annual meeting of stockholders (in each case, the "RSU Vesting Date"), subject to the Reporting Person's provision of services to the Issuer on each RSU Vesting Date. Shares of the Issuer's Common Stock will be delivered to the Reporting Person following vesting. RSUs do not expire; they either vest or are canceled prior to the RSU Vesting Date.
Key Figures
Merger cash price per share: $21.50 per share
RSUs disposed: 15,000 RSUs
Options at $7.01 exercise: 22,500 options at $7.01
+3 more
6 metrics
Merger cash price per share
$21.50 per share
Cash consideration for each common share in the merger
RSUs disposed
15,000 RSUs
RSUs canceled and converted to cash at merger closing
Options at $7.01 exercise
22,500 options at $7.01
Stock option grant disposed to issuer in merger
Options at $8.99 exercise (1)
32,335 options at $8.99
Stock option grant canceled and cashed out
Options at $8.99 exercise (2)
66,660 options at $8.99
Additional stock option grant canceled and cashed out
Derivative transactions
4 derivative dispositions
All coded as Disposition to issuer on Form 4
Key Terms
Restricted Stock Unit (RSU), Agreement and Plan of Merger, Merger Consideration, Offer Price, +2 more
6 terms
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.
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
"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.
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.
Disposition to issuer financial
"transaction_code_description": "Disposition to issuer""
stock option financial
"each stock option and restricted stock unit was canceled and converted into the right"
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 did Habib J. Dable report in this Day One (DAWN) Form 4?
Habib J. Dable reported disposing of RSUs and stock options back to Day One Biopharmaceuticals. The awards were canceled at the merger closing and converted into cash based on the merger consideration, rather than being exercised or sold in the open market.
What happened to Day One (DAWN) RSUs in this Form 4 filing?
The filing shows 15,000 RSUs disposed of to the issuer. Footnotes state RSUs became fully vested immediately before the merger and were then canceled in exchange for a cash payment equal to the Merger Consideration per underlying share, less applicable withholding taxes.
How were Day One (DAWN) stock options treated at the merger closing?
Outstanding stock options became fully vested immediately before the merger and were then canceled. Each option converted into a right to receive cash equal to the merger consideration minus the option’s per-share exercise price, subject to applicable withholding taxes at settlement.
What exercise prices apply to the Day One (DAWN) options in this Form 4?
The reported options cover 22,500 shares at an exercise price of $7.01 per share and two grants covering 32,335 and 66,660 shares at $8.99 per share. All of these options were disposed of to the issuer in connection with the merger transaction.
Does this Day One (DAWN) Form 4 reflect open-market buying or selling?
No. The transactions are coded as dispositions to the issuer, not market trades. They represent equity awards being canceled and cashed out under the merger agreement’s terms, rather than voluntary purchases or sales on a stock exchange by the reporting person.