NGM Biopharmaceuticals reprices underwater stock options for employees, effective after Q3 2023 filing

NGM BIOPHARMACEUTICALS INC

Compensation Committee approved repricing of 7,037,470 eligible options with exercise prices >$5.00 to closing price on Effective Date.
CEO David Woodhouse holds 2,449,846 options at original exercise prices $7.54-$31.93; options now deeply underwater (stock ~$1.02).
Eligible options subject to 12-18 month retention period; early exercise requires original higher strike price.
Outgoing President & CFO Siobhan Nolan Mangini's underwater options excluded from repricing; she departs Dec 1, 2023.
Repricing covers 88% of eligible options with original exercise prices from $7.54 to $31.93 per share.

item 5.02

Executive movements

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Departed

Siobhan Nolan Mangini

President and Chief Financial Officer

NGM BIOPHARMACEUTICALS INC

Effective: 2023-12-01
Filed: October 17, 2023, 7:59 PM ET

Siobhan Nolan Mangini who, as previously announced by the Company, is stepping down as President and Chief Financial Officer on December 1, 2023.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Siobhan Nolan Mangini departed as President and Chief Financial Officer at NGM BIOPHARMACEUTICALS INC.

Action: stepping down
Role: President and Chief Financial Officer

Exact text from the filing

Siobhan Nolan Mangini who, as previously announced by the Company, is stepping down as President and Chief Financial Officer on December 1, 2023.

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Source: SEC EDGAR

accession 0001193125-23-257803

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