secwatch.observer — SEC 8-K summary
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Issuer:     PLIANT THERAPEUTICS, INC. (PLRX)
CIK:        0001746473
Form:       8-K
Filed at:   2025-03-13T23:59:59+00:00
Accession:  0001193125-25-053541
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.03, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pliant Therapeutics adopts limited-duration poison pill; rights expire March 11, 2026
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- Board adopted rights agreement on March 12, 2025; dividend of one right per share to holders of record March 25, 2025.
- Rights become exercisable at $12.64/right if a person acquires 10% (20% for passive investors) of stock without approval.
- Upon trigger, holders (excluding acquiring person) can buy shares at 50% discount; rights expire March 11, 2026.
- Existing holders above thresholds are grandfathered but cannot increase ownership without losing grandfathered status.
- Board may redeem rights at $0.001 each or exchange for common stock prior to trigger.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1746473/000119312525053541/0001193125-25-053541-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1746473/000119312525053541/d815684d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-053541

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