GSI Technology (GSIT) CEO rescinds 100,000 options, expects replacement grant
Rhea-AI Filing Summary
Shu Lee-Lean reported disposition transactions in this Form 4 filing.
GSI Technology Inc. reported that Pres., CEO and Chairman Shu Lee-Lean agreed with the company to rescind and cancel 100,000 stock options from a February 2, 2026 grant of 150,000 options at $7.23 per share. 50,000 options remain, vesting on December 1, 2026 and expiring February 2, 2036. A footnote states the executive is expected to receive a replacement option for 100,000 shares, subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Shu Lee-Lean
Role
Pres., CEO and Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (right to buy) F1, F2 | 100,000 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Option (right to buy) — 50,000 shares (Direct)
Footnotes (2)
- F1. On February 2, 2026, the reporting person was granted a stock option to purchase 150,000 shares of Common Stock. By mutual agreement between the reporting person and the Issuer, 100,000 shares subject to this option (the "Cancelled Options") were rescinded and cancelled. Subject to the reporting person's continued service with the Issuer, the reporting person is expected to receive a replacement stock option to purchase 100,000 shares of Common Stock as consideration for the rescission and cancellation of the Cancelled Options.
- F2. Subject to the reporting person's continued service with the Issuer, the remaining 50,000 shares subject to the stock option vest and become fully exercisable on December 1, 2026.
Key Figures
Cancelled stock options: 100,000 shares
Original option grant: 150,000 shares
Remaining options: 50,000 shares
+3 more
6 metrics
Cancelled stock options
100,000 shares
Rescinded and cancelled from the February 2, 2026 stock option grant
Original option grant
150,000 shares
Stock option to purchase Common Stock granted on February 2, 2026
Remaining options
50,000 shares
Options remaining after cancellation, vesting December 1, 2026
Exercise price
$7.23 per share
Exercise price of the February 2, 2026 stock option grant
Option expiration
February 2, 2036
Expiration date of the remaining 50,000 stock options
Expected replacement option size
100,000 shares
Replacement stock option expected as consideration for cancelled options
Key Terms
stock option, Cancelled Options, vest
3 terms
stock option financial
"was granted a stock option to purchase 150,000 shares of Common Stock"
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.
Cancelled Options financial
"100,000 shares subject to this option (the "Cancelled Options") were rescinded"
vest financial
"the remaining 50,000 shares subject to the stock option vest and become fully exercisable"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did GSIT report for CEO Shu Lee-Lean?
GSI Technology reported that CEO Shu Lee-Lean agreed to rescind and cancel 100,000 stock options from a February 2, 2026 grant. This was a disposition to the issuer of derivative securities, not an open-market sale of common stock.
How many stock options were cancelled in the GSIT Form 4 filing?
The filing reports that 100,000 stock options from an original grant of 150,000 options were rescinded and cancelled by mutual agreement. These options related to shares of Common Stock and were treated as a disposition to the issuer.
What stock options remain outstanding for the reported GSIT grant?
After the cancellation, 50,000 stock options from the February 2, 2026 grant remain outstanding. Subject to continued service, these options vest and become fully exercisable on December 1, 2026 and have an expiration date of February 2, 2036.
What are the key terms of the remaining GSIT stock options?
The remaining 50,000 options have an exercise price of $7.23 per share, vest and become fully exercisable on December 1, 2026, and expire on February 2, 2036. These terms apply to the portion of the grant that was not cancelled.
Is the GSIT CEO expected to receive replacement options?
A footnote states the CEO is expected to receive a replacement stock option for 100,000 shares of Common Stock as consideration for the cancelled options, subject to continued service with GSI Technology. This replacement is described as expected, not yet granted.
Was the GSIT Form 4 transaction under a Rule 10b5-1 plan?
The filing’s Rule 10b5-1 checkbox is not checked, and the footnotes do not reference any trading plan. The reported transaction is a mutual agreement with the issuer to cancel options, rather than trades executed under a pre-arranged 10b5-1 plan.