Form 4: Cabaletta Bio Director Receives Option Repricing

Scott C. Brun, a director at Cabaletta Bio, Inc., had stock options repriced on May 19, 2025, according to a Form 4 filing with the SEC.

Summary

• Scott C. Brun, a director of Cabaletta Bio, Inc., had stock options repriced on May 19, 2025.
• The repricing was approved by the Issuer's board of directors on May 15, 2025, and became effective on May 19, 2025.
• The exercise price of some options was adjusted to $1.92 per share, reflecting the fair market value on the repricing date.
• Brun was granted 44,000 options at $1.92, exercisable until June 23, 2031.
• Brun was granted 22,000 options at $1.92, exercisable until May 31, 2033.
• Brun was granted 22,000 options at $1.92, exercisable until June 02, 2034.
• The repriced options will revert to their original exercise price if exercised during the Retention Period, which ends one year after the Repricing Date, upon a Sale Event, or upon termination of service due to death or disability.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to stock option repricing, which is neither inherently positive nor negative. The sentiment is neutral.

Risks

• If Brun leaves the company or a sale event occurs within one year of the repricing date, the options could revert to their original, potentially higher, exercise price.

Industry Context

Option repricing is a mechanism companies use to re-incentivize employees or directors when the stock price has fallen below the option's exercise price. This keeps the options valuable and motivates the recipients.

Stakeholder Impact

• The repricing of stock options may incentivize the director to work towards increasing shareholder value.
• Existing shareholders may view the repricing as a way to retain and motivate key personnel.

Key Dates

Keywords

stock options, repricing, director, Cabaletta Bio, Form 4, beneficial ownership, equity securities