Cocrystal Pharma, Inc. 8-K

What Happened
Cocrystal Pharma, Inc. (COCP) reported on January 15, 2026 that its Compensation Committee approved grants of non‑qualified stock options on January 9, 2026 to the company’s directors, certain executive officers and a consultant under the 2025 Equity Incentive Plan. The options have a 10‑year term, are exercisable at the closing price on January 8, 2026, and require execution of the company’s standard option agreement. Vesting is one‑half on January 9, 2027 and the remaining half in eight equal quarterly installments beginning March 31, 2027, subject to continued service.

Key Details

• Total options granted (sum of listed recipients): 253,328 stock options.
• Grants by recipient (total options each): Dr. Roger Kornberg 24,615; Dr. Philip Frost 24,615; Steve Rubin 16,410; Fred Hassan 16,410; Richard Pfenniger 16,410; Anthony Japour 16,410; James Martin 49,229; Sam Lee 49,229; Consultant 40,000.
• Option terms: 10‑year term, exercise price = closing price on Jan 8, 2026; vesting: 50% on Jan 9, 2027, remaining 50% in eight quarterly installments starting Mar 31, 2027.
• Additional cash award: $50,000 paid to Dr. Roger Kornberg for serving as chairman of the company’s Scientific Advisory Board.

Why It Matters
These grants and the cash award affect executive and director compensation and create potential future dilution if options are exercised. The exercise price set at the Jan 8, 2026 closing price means the options are effectively at‑the‑money as of that date; any future intrinsic value depends on the stock price after vesting. Investors should note the grant size, vesting schedule and the immediate $50,000 cash payout as items that affect governance, compensation expense and potential share count over time.