Forte director Finck’s options cashed out at $77
Forte Biosciences, Inc. (FBRX) reported that director Barbara K. Finck disposed of multiple equity awards in connection with the closing of a merger under an Agreement and Plan of Merger.
Rhea-AI Filing Summary
Forte Biosciences, Inc. (FBRX) reported that director Barbara K. Finck disposed of multiple equity awards in connection with the closing of a merger under an Agreement and Plan of Merger. On August 27, 2026, several stock option grants and a block of restricted stock units were cancelled and converted, under the merger terms, into rights to receive cash based on a $77.00 per share Merger Consideration, while options with exercise prices at or above that amount were cancelled with no consideration.
Positive
- None.
Negative
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Insider Trade Summary
Disposition: 60,519 shares
Disposition
7 txns
Insider
FINCK BARBARA K
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (right to buy) F1, F2 | 2,000 | -- | -- |
| Disposition | Stock Option (right to buy)] F1, F2 | 166 | -- | -- |
| Disposition | Stock Option (right to buy) F1, F2 | 1,000 | -- | -- |
| Disposition | Stock Option (right to buy) F1, F2 | 1,000 | -- | -- |
| Disposition | Stock Option (right to buy) F1, F2 | 7,000 | -- | -- |
| Disposition | Stock Option (right to buy) F1, F2 | 31,000 | -- | -- |
| Disposition | Restricted Stock Units F3, F4 | 18,353 | -- | -- |
Holdings After Transaction:
Stock Option (right to buy) — 0 contracts (Direct);
Stock Option (right to buy)] — 0 contracts (Direct);
Restricted Stock Units — 0 contracts (Direct)
Footnotes (4)
- F1. Pursuant to the Agreement and Plan of Merger, dated July 26, 2026 (the "Merger Agreement"), by and among Forte Biosciences, Inc. ("Company"), argenx BV ("Parent"), and Avena Merger Sub Inc., a wholly owned subsidiary of Parent ("Purchaser"), each unexercised and outstanding option to purchase shares of Common Stock (a "Company Option"), whether or not vested, and which had a per share exercise price that was less than $77.00 per share ("Merger Consideration"), was canceled and converted into the right of the holder to receive (i) (subject to any applicable withholding taxes) a lump-sum cash payment equal to (x) the excess (if any) of (a) the Merger Consideration over (b) the per share exercise price subject to such Company Option, multiplied by (y) the total number of shares subject to such Company Option immediately prior to Purchaser merging with and into Company (the "Merger"), with Company surviving the Merger as a wholly owned subsidiary of Parent.
- F2. At the effective time of the Merger, each Company Option that is then outstanding and unexercised, whether or not vested and which has a per share exercise price that is equal to or greater than the Merger Consideration, shall be cancelled with no consideration payable therefor.
- F3. Each restricted stock unit ("RSU") represents a contingent right to receive one share of Forte Biosciences, Inc. (the "Issuer") Common Stock.
- F4. Pursuant to the Merger Agreement, each outstanding restricted stock unit (a "Company RSU"), whether or not vested, was canceled and converted into the right of the holder to receive (i) (subject to any applicable withholding taxes) a lump-sum cash payment equal to (x) the Merger Consideration, multiplied by (y) the total number of shares subject to such Company RSU immediately prior to the effective time of the Merger.
Key Figures
Merger Consideration per share: $77.00 per share
Stock options cancelled at $35.75 exercise price: 2,000 shares
Additional stock options cancelled at $35.75 exercise price: 166 shares
+5 more
8 metrics
Merger Consideration per share
$77.00 per share
Cash consideration used to settle in-the-money Company Options and RSUs under the Merger Agreement
Stock options cancelled at $35.75 exercise price
2,000 shares
Unexercised Company Option with a $35.75 per share exercise price cancelled on August 27, 2026
Additional stock options cancelled at $35.75 exercise price
166 shares
Unexercised Company Option with a $35.75 per share exercise price cancelled on August 27, 2026; post-transaction holdings in that grant reported as 0
Stock options cancelled at $31.75 exercise price
1,000 shares
Unexercised Company Option with a $31.75 per share exercise price cancelled on August 27, 2026
Stock options cancelled at $20.00 exercise price
1,000 shares
Unexercised Company Option with a $20.00 per share exercise price cancelled on August 27, 2026
Stock options cancelled at $17.25 exercise price
7,000 shares
Unexercised Company Option with a $17.25 per share exercise price cancelled on August 27, 2026
Stock options cancelled at $7.02 exercise price
31,000 shares
Unexercised Company Option with a $7.02 per share exercise price cancelled on August 27, 2026
Restricted stock units cancelled
18,353 units
Company RSUs cancelled and converted into a cash right based on the $77.00 Merger Consideration
Key Terms
Agreement and Plan of Merger, Merger Consideration, Company Option, restricted stock unit, +1 more
5 terms
Agreement and Plan of Merger regulatory
"Pursuant to the Agreement and Plan of Merger, dated July 26, 2026"
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
"which had a per share exercise price that was less than $77.00 per share ("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.
Company Option financial
"each unexercised and outstanding option to purchase shares of Common Stock (a "Company Option")"
restricted stock unit financial
"Each restricted stock unit ("RSU") represents a contingent right to receive one share"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
Company RSU financial
"each outstanding restricted stock unit (a "Company RSU"), whether or not vested, was canceled"
FAQ
What insider activity did Forte Biosciences (FBRX) report for Barbara K. Finck?
The filing reports that director Barbara K. Finck disposed of several stock options and restricted stock units on August 27, 2026, as part of a merger transaction in which these awards were cancelled and converted into rights to receive cash, or cancelled with no consideration.
How were Forte Biosciences (FBRX) stock options treated in the merger?
Under the Merger Agreement, each unexercised option with an exercise price below $77.00 per share was cancelled and converted into a right to receive a cash payment equal to the excess of $77.00 over the exercise price, multiplied by the number of option shares. Options with exercise prices at or above $77.00 were cancelled with no consideration.
What specific Forte Biosciences (FBRX) options held by Barbara K. Finck were cancelled?
Reported cancellations include stock options covering 2,000 shares at a $35.75 exercise price, 166 shares at $35.75, 1,000 shares at $31.75, 1,000 shares at $20.00, 7,000 shares at $17.25, and 31,000 shares at $7.02 per share.
How were Forte Biosciences (FBRX) restricted stock units treated in the merger?
Each restricted stock unit represented a right to receive one share of Forte Biosciences common stock. Pursuant to the Merger Agreement, each such unit was cancelled and converted into a right to receive a cash payment equal to $77.00 per unit, multiplied by the number of units subject to the award.
How many Forte Biosciences (FBRX) restricted stock units of Barbara K. Finck were affected?
The filing shows that 18,353 restricted stock units held directly by Barbara K. Finck were cancelled and converted into the right to receive a cash payment calculated using the $77.00 per share Merger Consideration under the Merger Agreement.
Were the Forte Biosciences (FBRX) insider transactions under a Rule 10b5-1 plan?
No. The document-level Rule 10b5-1 checkbox is unchecked (aff_10b5_one is false), and the footnotes describe the transactions as arising from the Merger Agreement, not from a pre-arranged Rule 10b5-1 trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
