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Form 4 filing overview: Director and 10% owner Norbert W. Bischofberger reported the disposal of all Kronos Bio (KRON) equity holdings on 20 June 2025. The transactions were executed in connection with the previously announced merger between Kronos Bio and Concentra Biosciences completed on 18 June 2025.
Key details
- Common shares disposed: 10,802,138 held directly plus an aggregate 1,055,000 shares held through five family trusts (each trust disposed 263,750 shares).
- Consideration per share: US $0.57 cash plus one non-transferable contingent value right (CVR) as defined in the merger agreement.
- Derivative positions: Four option grants (total = 1,967,854 options; strike prices US $1.08–30.78) became fully vested and were cancelled. Cash was paid only where the strike price was below US $0.57; underwater options were forfeited with no value.
- Resulting ownership: Following the transactions, Bischofberger reports zero common shares and zero outstanding options.
The filing confirms logistical completion of equity transfers required by the merger and removes the insider’s Section 16 reporting obligations once KRON ceases to trade publicly.