secwatch.observer — SEC 8-K summary
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Issuer:     Aligos Therapeutics, Inc. (ALGS)
CIK:        0001799448
Form:       8-K
Filed at:   2024-02-28T23:59:59+00:00
Accession:  0001193125-24-050987
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Aligos Therapeutics completes stock option exchange; 93% of eligible underwater options surrendered.
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- Option exchange program closed; 3,880,332 shares surrendered (~93% of eligible) for 1,906,153 replacement options.
- CEO Lawrence M. Blatt surrendered 854,250 options, received 421,100 replacement options; other NEOs and directors also participated.
- Exchange ratios were 1.4-for-1 or 3.4-for-1 based on exercise price; all surrendered options were underwater.
- Replacement options have a new one-year cliff vest from grant date (Feb 28, 2024), then follow original schedule.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1799448/000119312524050987/0001193125-24-050987-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1799448/000119312524050987/d766112d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-050987

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer