---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-257803"
form_type: "8-K"
ticker: null
cik: "0001426332"
company_name: "NGM BIOPHARMACEUTICALS INC"
filed_at: "2023-10-17T23:59:59+00:00"
generated_at: "2026-06-09T22:31:58.072245+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-257803
- form_type: 8-K
- cik: 0001426332
- company_name: NGM BIOPHARMACEUTICALS INC
- filed_at: 2023-10-17T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1426332/000119312523257803/0001193125-23-257803-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1426332/000119312523257803/d560739d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-257803
- JSON: https://secwatch.observer/filing/0001193125-23-257803.json
- Plain text: https://secwatch.observer/filing/0001193125-23-257803.txt

## Key facts
- Executive change
  Siobhan Nolan Mangini departed as President and Chief Financial Officer at NGM BIOPHARMACEUTICALS INC.
  - Action: stepping down
  - Role: President and Chief Financial Officer
  source text: Siobhan Nolan Mangini who, as previously announced by the Company, is stepping down as President and Chief Financial Officer on December 1, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1426332/000119312523257803/0001193125-23-257803-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.