Form 4: Director William Grossman Exits Day One Post-Merger

Director William Grossman reports the cancellation of equity holdings following the acquisition of Day One Biopharmaceuticals by Servier Pharmaceuticals.

Summary

• Reporting person William Grossman, a Director at Day One Biopharmaceuticals, Inc. (DAWN), filed a Form 4 following the completion of the company's merger with Servier Pharmaceuticals LLC.
• All outstanding unvested stock options and restricted stock units (RSUs) held by the director were accelerated to full vesting immediately prior to the merger effective time.
• The director's holdings, including 66,660, 32,335, and 22,500 stock options and 15,000 RSUs, were canceled and converted into the right to receive cash consideration.
• The merger consideration was set at $21.50 per share, net to the seller in cash.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing documenting the final equity settlement of a director following a completed corporate acquisition.

Positives

• Full acceleration of unvested equity awards provided immediate liquidity to the director upon the merger closing.
• The merger provided a definitive cash exit for shareholders at $21.50 per share.

Negatives

• The company has ceased to be an independent publicly traded entity following the acquisition by Servier Pharmaceuticals.

Risks

• The reporting person no longer holds equity in the issuer as the company is now a wholly owned subsidiary of Servier Pharmaceuticals.

Future Outlook

The company has been acquired by Servier Pharmaceuticals and is now a wholly owned subsidiary; no further independent public guidance is provided.

Management Comments

• The filing confirms that the merger agreement was entered into on March 6, 2026, and closed on April 23, 2026.

Industry Context

StockSavvy.ai notes that this filing marks the conclusion of Day One Biopharmaceuticals' tenure as a public company, reflecting the ongoing trend of consolidation in the biopharmaceutical sector where larger entities acquire specialized firms to bolster their oncology pipelines.

Comparison to Industry Standards

• The acquisition price of $21.50 per share represents a standard exit strategy for clinical-stage biopharma companies being absorbed by larger global pharmaceutical players.
• The acceleration of unvested equity is a standard governance practice in change-of-control transactions to ensure alignment between management and the acquiring entity.

Corporate Governance

Stakeholder Impact

• Shareholders have received cash consideration for their holdings.
• The director has liquidated his equity position in the company.

Next Steps

• Delisting of Day One Biopharmaceuticals common stock from public exchanges.

Key Dates

Keywords

Day One Biopharmaceuticals, DAWN, Merger, Acquisition, Servier Pharmaceuticals, Form 4, Insider Transaction