Gossamer Bio (GOSS) cuts EVP Waage option strike to $0.45 in 2.07M-share repricing
Rhea-AI Filing Summary
Gossamer Bio EVP Christian Waage reported a one-time stock option repricing and related option grants and cancellations. Effective as of March 19, 2026, the company approved an option repricing that reduced the exercise price of certain outstanding options to $0.45 per share under its 2019 Incentive Award Plan.
On that date, Waage received multiple new stock option awards with an exercise price of $0.45 covering an aggregate of 2,065,584 shares of common stock, while an equal number of higher-priced options with exercise prices ranging from $0.838 to $2.88 per share were surrendered to the issuer.
All other terms of the repriced options, including vesting schedules and expiration dates through 2036, remain in effect and continue to be tied to Waage’s ongoing service with Gossamer Bio.
Positive
- None.
Negative
- None.
Insights
Large option repricing swaps underwater grants for lower-strike awards.
Gossamer Bio approved a one-time repricing that exchanges executive stock options with exercise prices between $0.838 and $2.88 for options at $0.45. For EVP Christian Waage, this affects 2,065,584 option shares, materially changing the economics of his equity incentives.
The filing states that vesting schedules and terms otherwise remain unchanged, so the main impact is the lower strike price, not additional quantity. This type of repricing can better align incentives if prior grants were deeply underwater, though it also preserves potential dilution that might otherwise have expired unexercised.
Future proxy and compensation disclosures for periods after March 19, 2026 may provide more context on how this repricing fits within the company’s broader pay-for-performance framework and whether similar adjustments were made for other executives under the 2019 Incentive Award Plan.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (Right to Buy) | 506,250 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 440,000 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 375,000 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 125,000 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 157,500 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 157,500 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 126,667 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 60,000 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 47,667 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 70,000 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 506,250 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 440,000 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 375,000 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 125,000 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 157,500 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 157,500 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 126,667 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 60,000 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 47,667 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 70,000 | $0.00 | -- |
Footnotes (1)
- Effective as of March 19, 2026 (the "Repricing Date"), the Issuer approved a one-time repricing of certain outstanding stock options (the "Repriced Options") granted under the Issuer's 2019 Incentive Award Plan (the "2019 Plan"), which reduced the per share exercise price of each Repriced Option to $0.45 (the "Option Repricing"). Except as modified by the Option Repricing, all other terms and conditions of the Repriced Options, including, without limitation, any provisions with respect to vesting and term of the Repriced Options, remain in full force and effect. This stock option award was issued pursuant to the 2019 Plan and becomes exercisable in accordance with the vesting schedule specified in the award agreement and as previously reported on applicable Form 4, subject to the Reporting Person's continued service with the Issuer as of the applicable vesting date.
