Director equity canceled in Day One Biopharmaceuticals (DAWN) cash merger
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Day One Biopharmaceuticals director William Grossman reported the cancellation of equity awards in connection with the company’s cash merger with Servier entities. On April 23, 2026, he disposed to the issuer of 15,000 restricted stock units and three stock option grants covering 22,500, 32,335 and 66,660 shares of Common Stock.
Footnotes explain that, upon closing of the merger at $21.50 per share in cash, all outstanding unvested stock options and RSUs became fully vested, then each option and RSU was canceled and converted into the right to receive cash equal to the merger consideration (or, for options, the merger consideration minus the applicable exercise price), less withholding taxes. Following these transactions, the filing shows no remaining derivative holdings.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Grossman William
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
RSUs canceled: 15,000 units
Options canceled (grant 1): 22,500 shares at $7.01
Options canceled (grant 2): 32,335 shares at $8.99
+3 more
6 metrics
RSUs canceled
15,000 units
Restricted Stock Units disposed to issuer on April 23, 2026
Options canceled (grant 1)
22,500 shares at $7.01
Stock option (right to buy Common Stock) exercise price
Options canceled (grant 2)
32,335 shares at $8.99
Stock option expiring May 22, 2034
Options canceled (grant 3)
66,660 shares at $8.99
Stock option expiring January 16, 2034
Merger consideration
$21.50 per share
Cash paid for each share of Common Stock in merger
Merger closing date
April 23, 2026
Date Merger closed and awards were canceled for cash
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
"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.
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.
FAQ
What did Day One Biopharmaceuticals (DAWN) director William Grossman report in this Form 4?
He reported a disposition of equity awards to the issuer. The filing shows cancellation of 15,000 RSUs and several stock option grants covering Common Stock, all tied to the closing of a cash merger at $21.50 per share.
How many Day One Biopharmaceuticals (DAWN) RSUs and options were affected for Grossman?
Grossman’s Form 4 lists 15,000 restricted stock units and three stock option grants for 22,500, 32,335 and 66,660 underlying shares. All were disposed to the issuer and converted into cash rights under the merger terms.
What were the exercise prices on Grossman’s Day One Biopharmaceuticals (DAWN) options?
The reported options had exercise prices of $7.01 per share and $8.99 per share. Under the merger, each option was canceled and converted into cash equal to $21.50 per share minus the applicable exercise price, before taxes.
How is the Servier-led merger described for Day One Biopharmaceuticals (DAWN)?
Footnotes describe an Agreement and Plan of Merger under which a Servier subsidiary merged with Day One. At closing on April 23, 2026, each share of Common Stock was purchased or converted into the right to receive $21.50 per share in cash.
What happened to all unvested equity awards at Day One Biopharmaceuticals (DAWN) in the merger?
Immediately before the effective time, all outstanding unvested stock options and RSUs became fully vested. At the effective time, each was canceled and converted into a cash amount based on the $21.50 per share merger consideration, less applicable withholding taxes.
Does Grossman retain any Day One Biopharmaceuticals (DAWN) derivative positions after these transactions?
The filing reports zero derivative securities following the transactions. The derivative summary is empty, and each listed RSU and stock option position shows a total of zero shares remaining after the merger-related cancellations.