secwatch.observer — SEC 8-K summary
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Issuer:     NGM BIOPHARMACEUTICALS INC (—)
CIK:        0001426332
Form:       8-K
Filed at:   2023-10-17T23:59:59+00:00
Accession:  0001193125-23-257803
Event type: other
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1426332/000119312523257803/0001193125-23-257803-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1426332/000119312523257803/d560739d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-257803

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