Lixte CEO swaps 350K options for stock award
Lixte Biotechnology CEO Geordan Garrett Pursglove restructured his equity compensation on April 15, 2026.
Rhea-AI Filing Summary
Lixte Biotechnology CEO Geordan Garrett Pursglove restructured his equity compensation on April 15, 2026. He agreed to cancel 350,000 options to purchase common stock with a $2.83 exercise price that were scheduled to expire on July 3, 2030, returning them to the company.
In exchange, he received 350,000 shares of common stock as a grant or award tied to 350,000 restricted share units under the 2020 Stock Incentive Plan. These RSUs vest immediately upon grant, so he now directly holds 350,000 common shares after the transaction. The filing shows no open‑market buying or selling; it is an issuer disposition of options paired with a compensatory stock award.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Pursglove Geordan Garrett
Role
CEO and Chairman of the Board
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Options to Purchase Common Stock | 350,000 | $0.00 | $0.00 |
| Grant/Award | Common Stock | 350,000 | $0.00 | $0.00 |
Holdings After Transaction:
Options to Purchase Common Stock — 0 contracts (Direct);
Common Stock — 350,000 shares (Direct)
Footnotes (2)
- F1. On April 15, 2026, the Issuer canceled, pursuant to that certain Stock Option Cancellation Agreement dated April 15, 2026 between the Issuer and the Reporting Person, the 350,000 options (the "Options") granted to the Reporting Person on July 3, 2025. In exchange for the Options, the Reporting Person received 350,000 restricted share units ("RSUs"). The RSUs were granted pursuant to the applicable award agreement dated April 15, 2026 and the Lixte Biotechnology Holdings, Inc. 2020 Stock Incentive Plan. Each RSU represents a contingent right to receive one share of common stock upon vesting, subject to continued service. The 350,000 RSUs vest immediately upon grant.
- F2. The canceled Options provided for vesting 50% on the effective date, 25% on September 30,2025 and 25% on December 31,2025.
Key Figures
Options canceled: 350,000 options
Exercise price: $2.83 per share
Options expiration: July 3, 2030
+3 more
6 metrics
Options canceled
350,000 options
Options to purchase common stock disposed to issuer on April 15, 2026
Exercise price
$2.83 per share
Exercise price of canceled options
Options expiration
July 3, 2030
Original expiration date of canceled options
Shares granted
350,000 shares
Common stock granted via award on April 15, 2026
Shares held after
350,000 shares
Direct common stock ownership following the transactions
RSUs granted
350,000 RSUs
Restricted share units granted under 2020 Stock Incentive Plan, vest immediately
Key Terms
Stock Option Cancellation Agreement, restricted share units, 2020 Stock Incentive Plan, Disposition to issuer, +1 more
5 terms
Stock Option Cancellation Agreement financial
"the Issuer canceled, pursuant to that certain Stock Option Cancellation Agreement dated April 15, 2026"
2020 Stock Incentive Plan financial
"The RSUs were granted pursuant to the applicable award agreement ... and the Lixte Biotechnology Holdings, Inc. 2020 Stock Incentive Plan"
Disposition to issuer financial
"transaction_code_description: "Disposition to issuer" for the options transaction"
Grant, award, or other acquisition financial
"transaction_code_description: "Grant, award, or other acquisition" for the common stock"
FAQ
What insider transaction did LIXT report for CEO Geordan Pursglove?
Lixte Biotechnology reported that CEO Geordan Garrett Pursglove canceled 350,000 stock options and, in exchange, received 350,000 common shares via a compensatory grant on April 15, 2026. This is a restructuring of his equity package, not an open‑market trade.
How many LIXT stock options were canceled in the latest Form 4?
The Form 4 shows 350,000 options to purchase Lixte common stock were canceled and returned to the issuer. These options carried a $2.83 exercise price and a July 3, 2030 expiration, and were replaced with an equivalent number of shares through a stock award.
What did the LIXT CEO receive for canceling 350,000 options?
For canceling 350,000 options, the Lixte CEO received 350,000 shares of common stock via a grant linked to restricted share units. The RSUs were granted under the 2020 Stock Incentive Plan and vest immediately, resulting in 350,000 common shares held directly after the transaction.
AI-generated analysis. How Rhea-AI works. Not financial advice.
