NEXGEL (NXGL) CFO details warrants, convertible note and 160,000-share option
Rhea-AI Filing Summary
NEXGEL, INC. Chief Financial Officer Ian Howard Blackman filed an initial ownership report listing his derivative positions in the company’s common stock. The filing shows a warrant exercisable at $0.80 per share for 20,834 underlying shares, expiring on April 17, 2031, and a $25,000 convertible note convertible at $0.60 per share into 41,667 shares, expiring on October 17, 2027. It also discloses a stock option for 160,000 shares at an exercise price of $0.65 per share, expiring on April 27, 2031. According to the footnote, 40,000 option shares vest on April 27, 2027, with the remaining 120,000 vesting monthly over 36 months starting March 31, 2027, subject to continued service and potential acceleration upon a Change in Control.
Positive
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Negative
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Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Blackman Ian Howard
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | $25,000 Convertible Note (right to buy) | -- | -- | -- |
| holding | Warrant (right to buy) | -- | -- | -- |
Holdings After Transaction:
Stock Option (right to buy) — 160,000 shares (Direct);
$25,000 Convertible Note (right to buy) — 41,667 shares (Direct);
Warrant (right to buy) — 20,834 shares (Direct)
Footnotes (1)
- F1. Represents a stock option granted pursuant to the Issuer's 2019 Long-Term Incentive Plan, as amended (the "Plan"), for services as the Issuer's Chief Financial Officer. The number of shares underlying the stock option shall vest as follows: (i) 40,000 shares of common stock vest on April 27, 2027 and (ii) the remaining 120,000 shares of common stock vest equally per month on the last day of each month for thirty-six months beginning on March 31, 2027 (with 3,334 shares vesting per month and 3,310 shares vesting on month thirty-six due to rounding adjustments), subject to the Reporting Person's continuous service through each vesting date. In the event of a Change in Control (as defined in the Plan), any unvested shares underlying the stock option shall accelerate in accordance with the terms of the Plan.
Key Figures
Warrant exercise price: $0.80 per share
Warrant underlying shares: 20,834 shares
Convertible note amount: $25,000
+5 more
8 metrics
Warrant exercise price
$0.80 per share
Warrant for 20,834 underlying common shares, expires April 17, 2031
Warrant underlying shares
20,834 shares
Common stock underlying CFO warrant position
Convertible note amount
$25,000
Convertible into 41,667 common shares at $0.60 per share
Convertible note conversion price
$0.60 per share
Conversion price for 41,667 underlying common shares
Stock option size
160,000 shares
Option grant under 2019 Long-Term Incentive Plan
Stock option exercise price
$0.65 per share
Exercise price for 160,000-share option expiring April 27, 2031
Initial vesting tranche
40,000 shares
Option shares vesting on April 27, 2027
Remaining vesting period
36 months
120,000 option shares vest monthly from March 31, 2027
Key Terms
Warrant (right to buy), Convertible Note, Stock Option, 2019 Long-Term Incentive Plan, +2 more
6 terms
Warrant (right to buy) financial
"security_title: "Warrant (right to buy)" with 20,834 underlying shares"
Convertible Note financial
""$25,000 Convertible Note (right to buy)" convertible at $0.60 per share"
A convertible note is a type of loan that a company gets from investors, which can later be turned into company shares instead of being paid back in cash. It matters because it helps startups raise money quickly without setting a fixed value for the company right away, making it easier to grow and attract investors.
Stock Option financial
""Stock Option (right to buy)" for 160,000 underlying common shares"
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.
2019 Long-Term Incentive Plan financial
"granted pursuant to the Issuer's 2019 Long-Term Incentive Plan, as amended"
Change in Control financial
"In the event of a Change in Control (as defined in the Plan)"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
vesting date financial
"subject to the Reporting Person's continuous service through each vesting date"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What does NEXGEL (NXGL) CFO Ian Blackman report on this Form 3?
He reports existing derivative holdings linked to NEXGEL common stock, including a warrant, a $25,000 convertible note, and a stock option grant. These entries show his current rights to acquire shares, not new open‑market purchases or sales.
What are the key terms of the NEXGEL (NXGL) CFO’s stock option grant?
The stock option covers 160,000 NEXGEL common shares at an exercise price of $0.65 per share, expiring on April 27, 2031. It was granted under the 2019 Long-Term Incentive Plan for his services as Chief Financial Officer.
What happens to the NEXGEL (NXGL) CFO’s options if there is a Change in Control?
The footnote states any unvested shares underlying the stock option may accelerate upon a Change in Control, as defined in NEXGEL’s 2019 Long-Term Incentive Plan. Acceleration would follow the plan’s terms, potentially making unvested options vest earlier.