Jenkinson Linda 4
4 · USBC, Inc. · Filed Mar 26, 2026
Research Summary
AI-generated summary of this filing
USBC Director Linda Jenkinson Reprices 10M Options
What Happened
Linda Jenkinson, a director of USBC, Inc. (USBC), reported the cancellation and simultaneous regrant (repricing) of 10,000,000 stock options on March 18, 2026. The filing shows a disposition to the issuer (D) of 10,000,000 derivative securities and an acquisition/grant (A) of 10,000,000 derivative securities. The repriced options carry an exercise price of $0.37 per share (reduced from $1.10); the Form 4 reports $0 cash changed hands as part of this repricing transaction.
Key Details
- Transaction date: March 18, 2026. Filing date: March 26, 2026 (filed 8 days after the reported transaction).
- Transaction codes: D (disposition to issuer — cancellation of prior options) and A (award/grant — repriced options issued).
- Option counts and prices: 10,000,000 options repriced; exercise price reduced from $1.10 to $0.37 per share.
- Vesting: Options vest 25% on the one‑year anniversary of their respective grant dates (grants tied to August 6 and October 7, 2025) and then in quarterly installments over the next three years (per footnotes F1/F2).
- Shares owned after transaction: Not disclosed in the provided Form 4 excerpt.
- No immediate exercise or sale reported — this was a modification/regrant, not a cash purchase or open‑market sale.
Context
This is a derivative repricing action: the company amended outstanding options to lower the exercise price, replacing the original options with new options on the same share count and with a new exercise price and standard vesting schedule. There was no cash exchange and no immediate issuance or sale of common stock reported. Repricings are corporate compensation adjustments and do not by themselves indicate an insider buying or selling shares.
Insider Transaction Report
- Disposition to Issuer
Option to Purchase Common Stock
[F1]2026-03-18−10,000,000→ 0 totalExercise: $1.10Exp: 2035-10-07→ Common Stock (10,000,000 underlying) - Award
Option to Purchase Common Stock
[F2]2026-03-18+10,000,000→ 10,000,000 totalExercise: $0.37Exp: 2036-03-18→ Common Stock (10,000,000 underlying)
Footnotes (2)
- [F1]The transactions reported involved the repricing of outstanding stock options to purchase 10,000,000 shares of common stock of USBC, Inc. (the "Company") pursuant to the Amended and Restated USBC, Inc. 2021 Equity Incentive Plan (the "Amended and Restated 2021 Plan"), reflecting the options granted on August 6 and October 7, 2025. The option will vest as to 25% of the shares covered by the option on the one-year anniversary of their respective grant dates and in quarterly installments thereafter over the next three years.
- [F2]On March 18, 2026, in accordance with the terms of the Amended and Restated 2021 Plan, the Board of Directors of the Company approved a repricing of outstanding stock options granted or repriced on October 7, 2025. The exercise price of each repriced option was reduced from $1.10 to $0.37 per share. The option will vest as to 25% of the shares covered by the option on the one-year anniversary of the Grant Date and in quarterly installments thereafter over the next three years.