Form 4: Neumora Therapeutics Director David Piacquad Reprices Stock Options
SEC Form 4
Director David Piacquad reports repricing of stock options in Neumora Therapeutics, contingent on stockholder approval.
Summary
- David Piacquad, a director of Neumora Therapeutics, filed a Form 4 detailing changes in beneficial ownership.
- The filing reports the repricing of two stock option grants held by Piacquad.
- One option for 46,455 shares, originally with an exercise price of $17, was repriced to $1.69.
- Another option for 28,571 shares, originally with an exercise price of $9.95, was also repriced to $1.69.
- The repricing is subject to stockholder approval and Piacquad's continued service through August 13, 2026.
- The repriced options vest over time, with the first option vesting monthly from September 8, 2023, and the second vesting on the earlier of June 13, 2025, or the next Annual Meeting following June 13, 2024.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a routine filing about stock option repricing, with no clear positive or negative implications without further context.
Risks
- The stock option repricing is contingent on stockholder approval, and if not approved, the original terms will remain in effect.
- The repricing is also contingent on the Reporting Person remaining in service to the Issuer through August 13, 2026.
Future Outlook
The repricing of the stock options is subject to stockholder approval, which will determine the final terms of the options.
Industry Context
Stock option repricing is a tool companies sometimes use to incentivize employees and board members, especially when the stock price has declined significantly since the original grant date. It aims to restore the motivational value of the options.
Stakeholder Impact
- Shareholders will vote on the option repricing, potentially affecting the dilution of their shares.
- Employees and service providers holding repriced options may be incentivized to improve company performance.
Next Steps
- Stockholder vote on the option repricing.
- Continued service of David Piacquad through August 13, 2026.
Key Dates
| Date | Description |
|---|---|
| September 8, 2023 | Vesting Commencement Date for one of the stock options. |
| June 13, 2024 | Date used to determine vesting for one of the stock options. |
| February 13, 2025 | Date of the stock option repricing. |
| August 13, 2026 | Date through which continued service is required for the repricing to remain valid. |
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