Synergy CHC (SNYR) CFO gets 150,000-share option repriced to $0.21
Rhea-AI Filing Summary
Synergy CHC Corp. Chief Financial Officer Jaime Fickett reported a restructuring of an existing stock option award. An original option covering 150,000 shares of common stock with a $2.38 exercise price was deemed canceled for Section 16 purposes, and a new option for 150,000 shares was granted with a reduced exercise price of $0.21 per share.
According to the footnotes, this reduction in exercise price is treated as a material modification, with the new option keeping the same vesting schedule and a five-year term from the original September 18, 2025 grant date. One-third of the option vests on the first anniversary of that date, and the remaining two-thirds vest in equal monthly installments over the following 24 months, subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Fickett Jaime
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (right to buy) | 150,000 | $0.00 | $0.00 |
| Disposition | Stock Option (right to buy) | 150,000 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Option (right to buy) — 150,000 shares (Direct)
Footnotes (2)
- F1. One-third (1/3) of this option grant (the "Original Option") vests on the first anniversary of September 18, 2025 (the "Original Grant Date"), and the remaining two-thirds (2/3) vest in equal monthly installments over the twenty-four (24) months thereafter, in each case subject to the reporting person's continued service with the Company.
- F2. The reduction in the exercise price of the Original Option constitutes a material modification and is deemed, for purposes of Section 16, to involve a cancellation of the Original Option and the grant of a new option in its place. The new option vests on the same schedule as the Original Option, as if it had been granted on the Original Grant Date, and expires on the five-year anniversary of the Original Grant Date.
Key Figures
Options canceled: 150,000 options
New options granted: 150,000 options
Original exercise price: $2.38 per share
+3 more
6 metrics
Options canceled
150,000 options
Original option deemed canceled for Section 16 purposes
New options granted
150,000 options
Replacement grant covering common stock
Original exercise price
$2.38 per share
Exercise price on original option
New exercise price
$0.21 per share
Exercise price on replacement option
Vesting schedule
1/3 at first anniversary, 2/3 over 24 months
From original September 18, 2025 grant date
Option term
Five years
Expires on five-year anniversary of September 18, 2025
Key Terms
material modification, exercise price, Section 16, grant date, +1 more
5 terms
material modification financial
"The reduction in the exercise price of the Original Option constitutes a material modification"
exercise price financial
"The reduction in the exercise price of the Original Option constitutes a material modification"
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.
Section 16 regulatory
"deemed, for purposes of Section 16, to involve a cancellation of the Original Option"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
grant date financial
"as if it had been granted on the Original Grant Date"
The grant date is the day a company formally gives an employee or contractor the right to receive stock-based compensation, such as stock options or restricted shares. It matters to investors because it fixes key terms—like the price, the start of the ownership clock, and when the award will affect the company’s financial statements and share count—so it can influence dilution, reported expenses, and potential future selling pressure.
vests in equal monthly installments financial
"the remaining two-thirds (2/3) vest in equal monthly installments over the twenty-four (24) months thereafter"
FAQ
What insider transaction did Synergy CHC Corp. (SNYR) report for its CFO?
Synergy CHC Corp. reported that CFO Jaime Fickett restructured an existing stock option. A prior option was deemed canceled and replaced with a new 150,000-share option at a lower exercise price, while keeping the same vesting schedule and overall structure under Section 16 rules.
What is the new exercise price of the CFO’s Synergy CHC (SNYR) stock option?
The new option for CFO Jaime Fickett has an exercise price of $0.21 per share. The original option had a $2.38 exercise price, and the reduction is treated as a material modification and a new grant under Section 16 reporting rules.
How does the vesting schedule work for the Synergy CHC (SNYR) CFO option grant?
One-third of the option vests on the first anniversary of September 18, 2025, the original grant date. The remaining two-thirds vest in equal monthly installments over the following 24 months, and all vesting is conditioned on the CFO’s continued service with the company.
Why is the Synergy CHC (SNYR) CFO option repricing treated as a cancellation and new grant?
The filing states the reduction in exercise price is a material modification. For Section 16 purposes, this is deemed a cancellation of the original option and the grant of a new option, even though the share count and vesting schedule remain the same.
When does the Synergy CHC (SNYR) CFO stock option expire?
The new option expires on the five-year anniversary of the original September 18, 2025 grant date. The filing explains that, despite the repricing, the option term is measured from that original grant date, consistent with how the modification is treated under Section 16.
AI-generated analysis. How Rhea-AI works. Not financial advice.
