Director Darren Cline receives 70,000 PLRX stock options at $1.14 strike price
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
PLIANT THERAPEUTICS, INC. director Darren S. Cline received a grant of stock options covering 70,000 shares of common stock. The options carry an exercise price of $1.14 per share and expire on June 11, 2036.
These options were granted as compensation rather than bought in the open market. According to the vesting schedule, 25% of the options vest and become exercisable on each of October 1, 2026, January 1, 2027, and April 1, 2027, with the remaining 25% vesting on the earlier of the one-year anniversary of the June 11, 2026 grant date or the next annual meeting of stockholders, subject to his continued service as a director. Following this grant, he holds options for 70,000 shares directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Cline Darren S
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (Right to Buy) | 70,000 | $0.00 | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 70,000 shares (Direct, null)
Footnotes (1)
- [object Object]
Key Figures
Option grant size: 70,000 shares
Exercise price: $1.14 per share
Shares after grant: 70,000 options
+4 more
7 metrics
Option grant size
70,000 shares
Stock Option (Right to Buy) underlying common stock
Exercise price
$1.14 per share
Conversion or exercise price of stock option
Shares after grant
70,000 options
Total derivative securities following transaction
Option expiration
June 11, 2036
Expiration date of stock option award
First vesting date
October 1, 2026
25% of option shares vest and become exercisable
Second vesting date
January 1, 2027
Additional 25% of option shares vest
Third vesting date
April 1, 2027
Additional 25% of option shares vest
Key Terms
Stock Option (Right to Buy), exercise price, vest and become exercisable, annual meeting of stockholders
4 terms
Stock Option (Right to Buy) financial
"security_title: Stock Option (Right to Buy)"
exercise price financial
"conversion_or_exercise_price: 1.1400"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
vest and become exercisable financial
"25% of the shares subject to such option vest and become exercisable"
annual meeting of stockholders financial
"the earlier of the one-year anniversary ... or (ii) the next annual meeting of stockholders"
FAQ
What did the PLRX Form 4 report for director Darren S. Cline?
The Form 4 reports that director Darren S. Cline received stock options for 70,000 PLRX common shares. These options are a compensation grant, not an open-market purchase, and give him the right to buy shares at a fixed exercise price in the future.
What is the exercise price on Darren Cline’s PLRX stock options?
The stock options granted to Darren Cline have an exercise price of $1.14 per share. This means he can later buy PLRX common shares at $1.14, once the options vest and before they expire, if he chooses to exercise them.
When do Darren Cline’s PLRX stock options vest according to the Form 4?
The options vest in four equal 25% installments: on October 1, 2026, January 1, 2027, and April 1, 2027, with the final 25% vesting on the earlier of June 11, 2027 or the next annual stockholder meeting, subject to his continued board service.
When do Darren Cline’s PLRX stock options expire?
The stock options granted to Darren Cline expire on June 11, 2036. He must exercise vested options on or before that expiration date; otherwise, any unexercised portion will lapse and can no longer be converted into PLRX common shares.
Is Darren Cline buying or selling PLRX stock in this Form 4 filing?
The Form 4 shows an option grant, not a stock purchase or sale. Darren Cline acquired 70,000 stock options as a compensation award, giving him the right to buy PLRX shares later, rather than transacting in the public market now.