Servier acquisition of Day One (NASDAQ: DAWN) cashes out CCO’s full equity stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Day One Biopharmaceuticals, Inc. has been acquired by Servier under a merger that closed on April 23, 2026, with common stockholders receiving $21.50 per share in cash.
As part of the closing, Chief Commercial Officer Lauren Merendino disposed of 60,157 shares of common stock and all outstanding equity awards, including multiple restricted stock unit and stock option grants, through issuer dispositions. These awards were canceled and converted into cash based on the $21.50 per-share Merger Consideration, or, for options, the cash value of the spread over their exercise prices, less applicable taxes. Following these transactions, the filing shows Merendino with no remaining common shares or derivative equity holdings in the company.
Positive
- None.
Negative
- None.
Insights
Officer equity fully cashed out in Servier’s all-cash acquisition.
The filing shows Day One’s Chief Commercial Officer disposing of all common shares, RSUs, and stock options in connection with Servier’s cash acquisition at $21.50 per share. Code D indicates issuer dispositions, not open-market selling.
Footnotes explain that at the merger’s effective time, all unvested options and RSUs vested, then were canceled for cash equal to the merger consideration (or option spread). With total shares and derivatives reported as zero afterward, this looks like a standard change-of-control cash-out of management equity rather than a discretionary trade.
Insider Trade Summary
9 transactions reported
Mixed
9 txns
Insider
Merendino Lauren
Role
Chief Commercial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (right to buy Common Stock) | 330,200 | $0.00 | -- |
| Disposition | Stock Option (right to buy Common Stock) | 90,000 | $0.00 | -- |
| Disposition | Stock Option (right to buy Common Stock) | 90,000 | $0.00 | -- |
| Disposition | Stock Option (right to buy Common Stock) | 110,000 | $0.00 | -- |
| Disposition | Restricted Stock Unit (RSU) | 18,978 | $0.00 | -- |
| Disposition | Restricted Stock Unit (RSU) | 25,816 | $0.00 | -- |
| Disposition | Restricted Stock Unit (RSU) | 40,565 | $0.00 | -- |
| Disposition | Restricted Stock Unit (RSU) | 69,375 | $0.00 | -- |
| Disposition | Common Stock | 60,157 | $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 option vests as to 25% of the total shares on June 12, 2024 and then 2.0833% of the total shares vest monthly thereafter, with 100% of the total shares vested on June 12, 2027, subject to the Reporting Person's provision of service to the Issuer on each vesting date. 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 1/48th 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. The option vests as to 1/48th of the total shares monthly, commencing February 28, 2026, subject to the Reporting Person's provision of service to the Issuer on each 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 vested as to 1/4th of the total award on August 15, 2024, and the remaining 3/4 of the award vests in 12 substantially equal quarterly installments thereafter on November 15, February 15, May 15 and August 15, subject to the Reporting Person's provision of service to the Issuer on each vesting date. RSUs do not expire; they either vest or are canceled prior to the vesting date. The RSUs vest as to 1/16th of the total award in quarterly installments on February 15, May 15, August 15 and November 15, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
Key Figures
Merger cash price: $21.50 per share
Common stock disposed: 60,157 shares
RSU grant canceled: 69,375 units
+3 more
6 metrics
Merger cash price
$21.50 per share
Cash consideration per common share in Servier merger
Common stock disposed
60,157 shares
Shares of Day One common stock disposed to issuer at merger closing
RSU grant canceled
69,375 units
Restricted Stock Units linked to common stock converted to cash
Largest option grant canceled
330,200 options at $8.99
Stock options with $8.99 exercise price converted to cash spread
Additional option grant
110,000 options at $11.16
Stock options canceled and settled in cash on merger closing
Total dispose transactions
9 transactions
All reported as issuer dispositions on April 23, 2026
Key Terms
Agreement and Plan of Merger, Merger Consideration, Restricted Stock Unit ("RSU"), Offer Price, +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"
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""
FAQ
What happened to Day One Biopharmaceuticals (DAWN) in this Form 4 filing?
Day One Biopharmaceuticals was acquired by Servier, and the merger closed on April 23, 2026. All common shares were effectively bought out or converted into cash at a fixed price per share under the merger agreement’s terms.
What happened to Lauren Merendino’s RSUs and stock options in the DAWN merger?
All outstanding RSUs and stock options became fully vested immediately before the merger and were then canceled. Each award was converted into cash based on the $21.50 per-share Merger Consideration, or, for options, the cash value of the spread over its exercise price.
Does Lauren Merendino still hold Day One (DAWN) equity after the Servier merger?
No. The Form 4 reports zero common shares and zero derivative securities owned following the transactions. Her prior stock, RSUs, and options were fully vested, canceled, and paid out in cash at closing, leaving no remaining equity position in the company.