Servier deal cashes out Day One (NASDAQ: DAWN) director’s equity stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Day One Biopharmaceuticals director John A. Josey disposed of his equity in connection with the company’s cash merger with Servier. Following the April 23, 2026 closing, his 72,292 shares of common stock were converted into cash at $21.50 per share under the merger terms.
His 15,000 restricted stock units and multiple fully vested stock option grants, covering tens of thousands of shares with exercise prices including $7.01 and $8.99, were canceled and converted into cash based on the merger consideration. After these issuer dispositions, the Form 4 shows no remaining common stock or derivative holdings.
Positive
- None.
Negative
- None.
Insights
Director’s equity is cashed out in the Servier take‑private deal, leaving no remaining holdings.
The filing shows that, upon the Servier acquisition of Day One Biopharmaceuticals, director John A. Josey had his equity awards treated in line with the merger agreement. Common shares were bought for $21.50 each, and RSUs and options were converted to cash.
All reported stock options were already fully vested, and the merger caused remaining unvested options and RSUs to vest, then be canceled for cash equal to the merger consideration (less any exercise price for options). With total_shares_following_transaction at zero and no remaining derivatives, this reflects a typical clean exit package in a cash merger, rather than an open‑market sale.
Insider Trade Summary
8 transactions reported
Mixed
8 txns
Insider
Josey John A.
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (right to buy Common Stock) | 63,000 | $0.00 | -- |
| Disposition | Stock Option (right to buy Common Stock) | 1,181 | $0.00 | -- |
| Disposition | Stock Option (right to buy Common Stock) | 28,700 | $0.00 | -- |
| Disposition | Stock Option (right to buy Common Stock) | 37,500 | $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 | -- |
| Disposition | Common Stock | 72,292 | $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 options are fully vested. 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 1/12th 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
Common shares disposed: 72,292 shares
RSUs canceled: 15,000 units
Option grant at $7.01: 22,500 options at $7.01
+4 more
7 metrics
Common shares disposed
72,292 shares
Converted to cash at $21.50 per share in merger
RSUs canceled
15,000 units
Became fully vested then paid out in cash at merger
Option grant at $7.01
22,500 options at $7.01
Fully vested stock option, canceled for cash spread at merger
Option grants at $8.99
192,716 options at $8.99
Multiple vested option tranches canceled for cash spread
Merger cash price
$21.50 per share
Offer Price and Merger Consideration for each common share
Disposition transactions
8 transactions
All coded D as disposition to issuer on April 23, 2026
Post‑transaction holdings
0 shares/options
Total shares and derivative positions following transactions
Key Terms
Agreement and Plan of Merger, Merger Consideration, restricted stock unit ("RSU"), stock option, +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"
stock option financial
"At the effective time of the Merger, each stock option and restricted stock unit was canceled"
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.
effective time of the Merger regulatory
"Immediately prior to the effective time of the Merger, all outstanding unvested stock options"
The effective time of the merger is the exact moment when a planned combination of two companies legally takes effect, usually specified in the merger agreement and reflected by the formal filing or timestamp. For investors, it is the point when ownership, voting rights, financial reporting and control shift—like a light switch flipping that joins two rooms into one—so it determines when shares convert, who controls corporate decisions and which results appear in financial statements.
FAQ
What does John A. Josey’s Form 4 for Day One Biopharmaceuticals (DAWN) show?
The Form 4 shows director John A. Josey disposed of all reported Day One Biopharmaceuticals equity in connection with the Servier cash merger, with his common shares, RSUs, and stock options all converted into cash consideration under the merger agreement.
What happened to John A. Josey’s RSUs in the Day One (DAWN) merger?
His restricted stock units became fully vested immediately before the merger’s effective time, then were canceled and converted into a cash payment equal to the Merger Consideration per underlying share, less any applicable withholding taxes, instead of settling in Day One common stock.
How were Day One Biopharmaceuticals (DAWN) stock options handled at closing?
At the merger’s effective time, each outstanding stock option was canceled and converted into cash equal to the Merger Consideration minus the option’s exercise price, for each underlying share, subject to required tax withholding, as outlined in the merger agreement footnotes.
Why do some Day One Biopharmaceuticals (DAWN) options show exercise prices like $7.01 and $8.99?
Those figures are the per‑share exercise prices for specific stock option grants. In the merger, each option’s cash payment equaled the Merger Consideration per share minus its respective exercise price, consistent with typical in‑the‑money option treatment in cash acquisitions.