Coulie Bernard 4

What Happened
Coulie Bernard, President, CEO and a director of Pliant Therapeutics (PLRX), had multiple option awards surrendered to the company and immediately regranted as part of a board‑approved option repricing effective April 17, 2026. The filing shows dispositions to the issuer and corresponding grants totaling 1,951,703 option units (no cash consideration reported).

Key Details

• Transaction date: April 17, 2026 (Repricing approved by the board on April 15, 2026; effective April 17, 2026).
• Reported amounts: 1,951,703 options surrendered and 1,951,703 repriced options granted (multiple lots: 146,841; 327,262; 250,000; 440,000; 206,300; 256,300; 325,000).
• Reported dollar amounts on Form 4: $0.00 (derivative transactions showing surrender and grant; no cash proceeds).
• Shares owned after transaction: not disclosed in this Form 4.
• Timeliness: Filing covers transactions dated and reported April 17, 2026 (no late filing indicated).
• Important footnotes:
  • F1–F2: Board approved repricing for options granted on or before March 1, 2025; vesting schedules remain as originally set.
  • F4–F5: Repriced options use the closing stock price on the effective date and may revert to the original exercise price during an 18‑month “Retention Period” (or upon certain termination/resignation events).
  • F3, F6–F9: Several previously reported option expiration dates were corrected in the filing.

Context
This is a corporate repricing (old options surrendered and new, repriced options issued), not a cash sale or open‑market purchase. Repricings adjust exercise economics for option holders but do not represent immediate cash proceeds or direct buying/selling of shares. The repriced options keep original vesting terms and include a retention feature where, under certain conditions during the retention period, the options can revert to their original (higher) exercise price.