Skye Bioscience (SKYE) COO receives repriced stock options
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Skye Bioscience Chief Operating Officer Diep Tuan Tu reported a board-approved, one-time repricing of several stock option awards effective March 31, 2026. Existing options with exercise prices between $2.89 and $14.56 per share were surrendered and replaced with new options for the same share amounts at a $0.615 exercise price, matching the closing price on the repricing date.
The grants include, among others, a 150,000-share option expiring on February 25, 2035 and additional options for 75,000, 22,021, 9,194, 8,000 and 7,080 shares at the same $0.615 exercise price. These options generally vest in equal monthly installments over four years from their original vesting start dates and become fully vested upon a change in control. The filing reflects compensation-related option adjustments, not open-market purchases or sales of common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
14 transactions reported
Mixed
14 txns
Insider
Diep Tuan Tu
Role
Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (Right to Buy) | 150,000 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 150,000 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 9,194 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 9,194 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 22,021 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 22,021 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 125,000 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 125,000 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 8,000 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 8,000 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 7,080 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 7,080 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 75,000 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 75,000 | $0.00 | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 150,000 shares (Direct)
Footnotes (1)
- The exercise price of the stock option is $0.615 per share, representing the closing price of the Issuer's common stock on the date of the repricing. The stock option vests in equal monthly installments over the four year period beginning February 21, 2025. The grant date for the stock option is February 25, 2025. Upon a change in control of the Issuer, 100% of the stock option will become fully vested. On March 31, 2026, the board of directors of the Issuer approved the one-time repricing of the stock option effective as of March 31, 2026. Except as described in footnote 1, all other terms of the stock option remain unchanged. The stock option was omitted from the Reporting Person's original Form 3, filed on March 4, 2024. The stock option vests in equal monthly installments over the four year period beginning August 24, 2023. The grant date for the stock option is November 6, 2023. Upon a change in control of the Issuer, 100% of the stock option will become fully vested. The stock option vests in equal monthly installments over the four year period beginning August 24, 2023. The grant date for the stock option is August 25, 2023. Upon a change in control of the Issuer, 100% of the stock option will become fully vested. The stock option vests in equal monthly installments over the four year period beginning October 28, 2024. The grant date for the stock option is October 29, 2024. Upon a change in control of the Issuer, 100% of the stock option will become fully vested. The stock option is fully vested. The stock option vests in equal monthly installments over the four year period beginning February 29, 2024. The grant date for the stock option is March 1, 2024. Upon a change in control of the Issuer, 100% of the stock option will become fully vested.
Key Figures
Largest repriced option grant: 150,000 options at $0.615/share
Original higher exercise price (replaced): $2.89/share
Highest original exercise price (replaced): $14.56/share
+4 more
7 metrics
Largest repriced option grant
150,000 options at $0.615/share
Expires February 25, 2035; reported for COO Diep Tuan Tu
Original higher exercise price (replaced)
$2.89/share
150,000-share option disposed to issuer on March 31, 2026
Highest original exercise price (replaced)
$14.56/share
75,000-share option disposed to issuer on March 31, 2026
Repriced 75,000-share option
75,000 options at $0.615/share
Expires March 1, 2034; vests monthly over four years
Repriced 22,021-share option
22,021 options at $0.615/share
Expires September 29, 2033; monthly vesting from August 24, 2023
Repriced 9,194-share option
9,194 options at $0.615/share
Expires November 6, 2033; monthly vesting from August 24, 2023
Repriced 8,000-share option
8,000 options at $0.615/share
Expires October 5, 2030; fully vested according to footnote
Key Terms
stock option, exercise price, repricing, vests in equal monthly installments, +1 more
5 terms
stock option financial
"The exercise price of the stock option is $0.615 per share"
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
exercise price financial
"The exercise price of the stock option is $0.615 per share"
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.
repricing financial
"approved the one-time repricing of the stock option effective as of March 31, 2026"
vests in equal monthly installments financial
"The stock option vests in equal monthly installments over the four year period"
change in control financial
"Upon a change in control of the Issuer, 100% of the stock option will become fully vested"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
FAQ
What did Skye Bioscience (SKYE) COO Diep Tuan Tu report on this Form 4?
The Form 4 reports a one-time repricing of multiple stock option awards held by COO Diep Tuan Tu, approved March 31, 2026, with higher-priced options surrendered and replaced by options at a new $0.615 exercise price matching that day’s closing share price.
What is the new exercise price for the repriced Skye Bioscience COO stock options?
The repriced stock options now carry a $0.615 per share exercise price. A footnote states this price equals the closing price of Skye Bioscience common stock on the repricing date, March 31, 2026, and all other terms of the affected option remain unchanged.
How do the repriced Skye Bioscience stock options reported by the COO vest?
The options generally vest in equal monthly installments over four years from their respective vesting start dates. Footnotes specify schedules beginning on August 24, 2023, October 28, 2024, February 21, 2025, and February 29, 2024, with all options becoming fully vested upon a change in control of Skye Bioscience.
What are the key sizes and terms of the COO’s repriced stock option awards at Skye Bioscience?
Key awards include a 150,000-share option and additional options for 75,000, 22,021, 9,194, 8,000, and 7,080 shares. Each now has a $0.615 exercise price, with expirations ranging from October 5, 2030 to February 25, 2035, and four-year monthly vesting schedules detailed in the footnotes.