DAWN Form 4: Director’s options reset to $8.99 exercise price
Rhea-AI Filing Summary
Day One Biopharmaceuticals (DAWN): Director Form 4 discloses option repricing. On 11/06/2025, two stock option grants were repriced to an exercise price of $8.99, equal to the Nasdaq closing price on the effective date if lower than the original price.
The actions replaced options for 66,660 shares at $13.81 and 32,335 shares at $13.87 with new options at $8.99. To exercise the repriced options, the reporting person must remain in service through the Retention Period, ending on the earlier of the 12‑month anniversary of the effective date or a Corporate Transaction. One grant vests 1/36 monthly beginning 02/17/2024; the other is fully vested.
Positive
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Negative
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Insights
Administrative option repricing to $8.99; neutral impact.
DAWN repriced two director option grants effective 11/06/2025 to an exercise price of $8.99 if below the originals. The changes swap prior strikes of $13.81 (66,660 options) and $13.87 (32,335 options) for the new price, with other terms unchanged.
The filing specifies a Retention Period that must elapse before exercise at the new price, ending at the earlier of the 12‑month anniversary of the effective date or a Corporate Transaction. One award vests 1/36 monthly starting 02/17/2024; the other is fully vested.
This is a routine compensation adjustment exempt under Rule 16b‑6(d) and Rule 16b‑3. Actual exercise timing depends on service through the Retention Period and award terms.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (right to buy Common Stock) | 66,660 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy Common Stock) | 66,660 | $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 | -- |
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 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. The options are fully vested.
