secwatch.observer — SEC 8-K summary
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Issuer:     Alector, Inc. (ALEC)
CIK:        0001653087
Form:       8-K
Filed at:   2026-10-14T13:00:14+00:00
Accession:  0001193125-26-421080
Event type: other_material
Sentiment:  neutral
Materiality: 0.32
Item codes: 5.02
LLM model:  deepseek-v4.1-flash:cloud@v2

Alector reprices ~4.05M underwater options to $1.87; CEO's 2.42M options included
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- Board approved the repricing on Oct 13, 2026, setting a new exercise price of $1.87 per share, the closing price that day, versus original strikes of $6.48 to $33.11.
- About 4.05 million shares underlie all repriced options; CEO and co-founder Arnon Rosenthal held 2,421,197 repriced options with original prices of $6.48 to $23.70.
- Chief Accounting Officer Grace Wong-Sarad had 87,385 options repriced, originally struck at $9.46 to $23.70 per share.
- Exercising before the Retention Period ends requires paying the original strike; the period ends at the earliest of one year, a change in control, or death/disability.
- Share counts, expiration dates and vesting are unchanged; Alector says repricing avoids dilution from new grants and added cash compensation costs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1653087/000119312526421080/0001193125-26-421080-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1653087/000119312526421080/alec-20261013.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-421080

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