secwatch.observer — SEC 8-K summary
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Issuer:     C4 Therapeutics, Inc. (CCCC)
CIK:        0001662579
Form:       8-K
Filed at:   2024-03-08T23:59:59+00:00
Accession:  0001628280-24-009967
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

C4 Therapeutics reprices underwater employee options; new exercise prices $19.00 and $11.88
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- Eligible options with exercise price >$22.00 repriced to $19.00 for senior leadership and $11.88 for other employees.
- Repricing applies to CFO, CBO, CSO, CPO, and CLO; CEO and non-employee directors excluded.
- Repriced options revert to original exercise price if holder is terminated for cause or resigns before March 7, 2025.
- Board and Committee designed repricing as retention incentive without additional equity grants or cash compensation.
- Original exercise price threshold of $22.00 is over 2x the closing price and about 2.5x the 30-day VWAP on effective date.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1662579/000162828024009967/0001628280-24-009967-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1662579/000162828024009967/cccc-20240308.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-009967

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