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PLIANT THERAPEUTICS, INC.·4

Apr 17, 4:42 PM ET

Cheung Lily 4

4 · PLIANT THERAPEUTICS, INC. · Filed Apr 17, 2026

Research Summary

AI-generated summary of this filing

Updated

Pliant (PLRX) CHRO Lily Cheung Receives Repriced Option Awards

What Happened

  • Lily Cheung, Chief Human Resource Officer of Pliant Therapeutics (PLRX), had stock option awards repriced and reissued by the company effective April 17, 2026. The filing shows dispositions to the issuer and contemporaneous grants (derivative transactions) for 123,000, 52,000 and 51,750 option shares, for a total of 226,750 options. Each transaction is reported at $0.00 because these are derivative award adjustments (no cash sale or open-market purchase reported).

Key Details

  • Transaction date: April 17, 2026 (board approval occurred April 15, 2026; repricing effective April 17, 2026)
  • Reported transactions: cancellations/dispositions to the issuer of 123,000; 52,000; and 51,750 option shares, and simultaneous grants of the same amounts (total 226,750). Price reported: $0.00 (derivative award repricing, not a cash trade).
  • Shares owned after transaction: not specified in the provided filing summary.
  • Plan and vesting: Awards issued under the 2020 Stock Option and Incentive Plan; vesting remains as previously reported and is subject to continued service. (Footnote F2.)
  • Expiration correction: original Form 4 expiry date corrected to January 19, 2033. (Footnote F3.)
  • Retention/reversion terms: Under the repricing, options will revert to their original exercise price if exercised during a defined "Retention Period" (up to 18 months or upon certain termination or sale events) or under other specified termination/resignation-for-cause scenarios. (Footnotes F4–F5.)
  • Timeliness: Filing and report date are both April 17, 2026 — the filing appears timely per the reported period.

Context

  • These entries reflect an option repricing/regrant (derivative adjustment), not an open-market buy or sale of common stock. That means no immediate cash proceeds or purchases were reported.
  • Vesting schedules and most other award terms remain unchanged; the repriced options carry special reversion rules during the retention period as noted above.
  • For retail investors: this is a compensation-related adjustment rather than a straightforward insider purchase or sale; interpret it as an administrative change to option economics rather than a direct bullish/bearish trade signal.

Insider Transaction Report

Form 4
Period: 2026-04-17
PLIANT THERAPEUTICS, INC.PLRX
Cheung Lily
Chief Human Resource Officer
Transactions
  • Disposition to Issuer

    Stock Option (Right to Buy)

    [F1][F2][F3]
    2026-04-17−123,000→ 0 total
    Exercise: $21.93Exp: 2033-01-19→ Common Stock (123,000 underlying)
  • Award

    Stock Option (Right to Buy)

    [F4][F5][F1][F2][F3]
    2026-04-17+123,000→ 123,000 total
    Exercise: $1.33Exp: 2033-01-19→ Common Stock (123,000 underlying)
  • Disposition to Issuer

    Stock Option (Right to Buy)

    [F1][F2]
    2026-04-17−52,000→ 0 total
    Exercise: $17.44Exp: 2034-01-23→ Common Stock (52,000 underlying)
  • Award

    Stock Option (Right to Buy)

    [F4][F5][F1][F2]
    2026-04-17+52,000→ 52,000 total
    Exercise: $1.33Exp: 2034-01-23→ Common Stock (52,000 underlying)
  • Disposition to Issuer

    Stock Option (Right to Buy)

    [F1][F2]
    2026-04-17−51,750→ 0 total
    Exercise: $11.14Exp: 2035-01-23→ Common Stock (51,750 underlying)
  • Award

    Stock Option (Right to Buy)

    [F4][F5][F1][F2]
    2026-04-17+51,750→ 51,750 total
    Exercise: $1.33Exp: 2035-01-23→ Common Stock (51,750 underlying)
Footnotes (5)
  • [F1]On April 15, 2026, the Issuer's board of directors approved an option repricing (the "Repricing"), effective April 17, 2026 (the "Effective Date"), for all stock options granted on or before March 1, 2025 to the Issuer's current employees, including the Reporting Person. All of the other terms of the options remain unchanged.
  • [F2]The stock option award was issued pursuant to the Issuer's 2020 Stock Option and Incentive Plan, as amended (the "2020 Plan") and becomes exercisable in accordance with the vesting schedule specified in the award agreement and as previously reported on the Reporting Person's applicable Form 4, subject to the Reporting Person's continued service to the Issuer as of the applicable vesting date.
  • [F3]The expiration date has been updated from the Form 4 originally filed on January 23, 2023 from January 18, 2033 to the correct expiration date of January 19, 2033.
  • [F4]The closing price per share of the Issuer's common stock on the Effective Date. Under the terms of the Repricing, a repriced stock option award will revert to its original exercise price if exercised during the Retention Period. The "Retention Period" commenced on the Effective Date and ends on the earliest of the following: (i) the eighteen-month anniversary of the Effective Date; (ii) the consummation of a Sale Event (as defined by the 2020 Plan); and (iii) the Reporting Person's (a) termination without cause (as defined in the Reporting Person's severance plan) or due to a reduction in force, (b) death or termination due to disability, or (c) resignation from service for good reason (as defined in the Reporting Person's severance plan).
  • [F5]The repriced options will also revert to its original exercise price if the Reporting Person (i) is terminated for cause (as defined in the Reporting Person's severance plan) or (ii) resigns prior to the end of the Retention Period, except for good reason (as defined in the Reporting Person's severance plan).
Signature
/s/ Jennifer Woo, attorney-in-fact|2026-04-17

Documents

1 file
  • 4
    wk-form4_1776458549.xmlPrimary

    FORM 4