Abbott deal converts Exact Sciences (EXAS) GC Herriott’s stock, options and RSUs
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Exact Sciences Corporation senior vice president and general counsel James Herriott reported the final treatment of his equity as the company was acquired by Abbott Laboratories. On the March 23, 2026 merger closing, each Exact Sciences common share was converted into the right to receive $105.00 in cash, without interest.
Herriott’s outstanding stock options were cancelled and, where the exercise price was below $105.00 per share, converted into a cash right equal to the spread over the merger price, less taxes. His Exact Sciences restricted stock units were similarly terminated as issuer awards, with RSUs granted on or after November 19, 2025 assumed by Abbott as new parent RSUs on substantially the same terms.
This Form 4 records a series of dispositions to the issuer, not open‑market trades, and reflects that Herriott no longer holds Exact Sciences equity following the merger, with his continuing equity exposure now in Abbott equity-based awards.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
Herriott James
Role
SVP, General Counsel & Sec
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Options (Right to Buy) | 793 | $0.00 | -- |
| Disposition | Stock Options (Right to Buy) | 2,861 | $0.00 | -- |
| Disposition | Restricted Stock Units | 20,321 | $0.00 | -- |
| Disposition | Common Stock | 68,195 | $0.00 | -- |
| Disposition | Common Stock | 1,762 | $0.00 | -- |
Holdings After Transaction:
Stock Options (Right to Buy) — 0 shares (Direct);
Restricted Stock Units — 0 shares (Direct);
Common Stock — 0 shares (Direct);
Common Stock — 0 shares (Indirect, Held in 401(k) Plan)
Footnotes (1)
- On March 23, 2026, pursuant to the terms of that certain Agreement and Plan of Merger (the "Merger Agreement"), dated as of November 19, 2025, by and among Exact Sciences Corporation, a Delaware corporation (the "Issuer"), Abbott Laboratories, an Illinois corporation ("Parent"), and Badger Merger Sub I, Inc., a Delaware corporation and a direct, wholly owned subsidiary of Parent ("Merger Sub"), Merger Sub merged with and into the Issuer (the "Merger"), with the Issuer surviving the Merger as a direct, wholly owned subsidiary of Parent. At the effective time of the Merger (the "Effective Time"), on the terms and subject to the conditions set forth in the Merger Agreement, each share of the Issuer's common stock, par value $0.01 per share ("Common Stock"), issued and outstanding immediately prior to the Effective Time, with certain exceptions, was converted into the right to receive $105.00 in cash, without interest (the "Merger Consideration"). These options became exercisable on February 26, 2023. At the Effective Time, each option to purchase shares of Common Stock granted under an Issuer stock plan and outstanding and unexercised as of immediately prior to the Effective Time was cancelled and, in the case of any such option the per-share exercise price of which was less than the Merger Consideration, converted into the right to receive a cash payment equal to the number of shares of Common Stock for which such option was exercisable multiplied by the excess of the Merger Consideration over the per-share exercise price of such option, less any applicable tax withholding These options became exercisable on February 14, 2024. Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock. These RSUs vest in four equal annual installments beginning on February 25, 2027. At the Effective Time, each outstanding RSU as of immediately prior to the Effective Time that was granted on or after November 19, 2025 was assumed by Parent at the Effective Time as a Parent restricted stock unit on substantially the same terms and conditions as were applicable to the corresponding RSU (including with respect to double-trigger vesting protections), with the number of Parent common shares underlying such Parent restricted stock unit determined based on the Merger Consideration divided by the average closing price of a Parent common share for the 10 consecutive trading days ending on and including the trading day immediately preceding the Effective Time.
FAQ
What did the Exact Sciences (EXAS) Form 4 for James Herriott report?
The Form 4 reports that James Herriott’s Exact Sciences equity was disposed of in connection with the Abbott merger. His shares, options, and RSUs were cancelled or converted into cash and new Abbott equity awards under the merger terms.
What happened to James Herriott’s Exact Sciences stock options in this filing?
His outstanding Exact Sciences stock options were cancelled at closing and, where the exercise price was below $105.00, converted into cash. The cash due equaled in-the-money value per option, reduced by applicable tax withholding obligations at settlement.
How were Exact Sciences (EXAS) restricted stock units handled for Herriott?
Each Exact Sciences RSU represented a right to one share of common stock and was terminated as an issuer award. RSUs granted on or after November 19, 2025 were assumed by Abbott as new parent RSUs on substantially the same vesting and protection terms.
Does this James Herriott Form 4 show open-market sales of EXAS stock?
No. The transactions are coded as dispositions to the issuer tied to the merger. They reflect cancellation or conversion of equity awards and common shares under the merger agreement, not discretionary open‑market purchases or sales on a stock exchange.