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PLIANT THERAPEUTICS, INC.·4

Apr 17, 4:42 PM ET

Cummings Keith Lamont 4

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

Research Summary

AI-generated summary of this filing

Updated

PLRX CFO Keith Cummings Receives Repriced Stock Options

What Happened

  • Keith Lamont Cummings, Chief Financial Officer of Pliant Therapeutics, was the subject of a company-approved option repricing effective April 17, 2026. The filing shows multiple derivative transactions where existing option awards were cancelled (dispositions to issuer) and new option awards were granted (awards/acquisitions) at $0 reported cash price.
  • The transactions affect a total of 592,495 option shares (sum of paired dispositions and grants). Because these are repriced option adjustments, no cash proceeds or open-market buys/sells occurred.

Key Details

  • Transaction date: April 17, 2026. Report filed the same day (no late filing indicated).
  • Transaction types: Repricing — each old option award was cancelled (D) and a new award was granted (A); all reported as derivative transactions with $0 cash price.
  • Total repriced/options affected: 592,495 shares (aggregate of the listed awards).
  • Shares owned after transaction: Not specified in this filing excerpt.
  • Notable footnotes:
    • F1: Repricing approved for all stock options granted on or before March 1, 2025 to current employees (including the reporting person), effective April 17, 2026.
    • F2: Awards issued under the company’s equity plans and remain subject to their original vesting schedules and continued service.
    • F4–F5: Repriced options include a “Retention Period” (commencing Apr 17, 2026) during which the option may revert to its original exercise price in certain circumstances (including termination, resignation without good reason, or termination for cause).
    • F3, F6–F9: Corrections to previously reported option expiration dates (clerical updates).
  • Filing timeliness: The period of report and filing date are the same (Apr 17, 2026), so no late-filing flag is shown.

Context

  • This is a compensation-related repricing of existing employee stock options, not an open-market purchase or sale. For retail investors, such repricings are generally intended for retention/compensation and do not necessarily signal the insider’s personal view of the company stock.
  • Because these are derivative adjustments (options cancelled and regranted), there was no immediate exercise or sale of shares and no cash transferred in this filing. The retention rules mean the repriced terms can revert to prior terms under certain conditions during the retention period.

Insider Transaction Report

Form 4
Period: 2026-04-17
PLIANT THERAPEUTICS, INC.PLRX
Cummings Keith Lamont
Chief Financial Officer
Transactions
  • Disposition to Issuer

    Stock Option (Right to Buy)

    [F1][F2][F3]
    2026-04-17−76,047→ 0 total
    Exercise: $2.08Exp: 2029-01-24→ Common Stock (76,047 underlying)
  • Award

    Stock Option (Right to Buy)

    [F4][F5][F1][F2][F3]
    2026-04-17+76,047→ 76,047 total
    Exercise: $1.33Exp: 2029-01-24→ Common Stock (76,047 underlying)
  • Disposition to Issuer

    Stock Option (Right to Buy)

    [F1][F2][F6]
    2026-04-17−18,198→ 0 total
    Exercise: $6.22Exp: 2030-03-31→ Common Stock (18,198 underlying)
  • Award

    Stock Option (Right to Buy)

    [F4][F5][F1][F2][F6]
    2026-04-17+18,198→ 18,198 total
    Exercise: $1.33Exp: 2030-03-31→ Common Stock (18,198 underlying)
  • Disposition to Issuer

    Stock Option (Right to Buy)

    [F1][F2][F7]
    2026-04-17−74,250→ 0 total
    Exercise: $26.50Exp: 2031-01-23→ Common Stock (74,250 underlying)
  • Award

    Stock Option (Right to Buy)

    [F4][F5][F1][F2][F7]
    2026-04-17+74,250→ 74,250 total
    Exercise: $1.33Exp: 2031-01-23→ Common Stock (74,250 underlying)
  • Disposition to Issuer

    Stock Option (Right to Buy)

    [F1][F2][F8]
    2026-04-17−124,000→ 0 total
    Exercise: $11.86Exp: 2032-01-26→ Common Stock (124,000 underlying)
  • Award

    Stock Option (Right to Buy)

    [F4][F5][F1][F2][F8]
    2026-04-17+124,000→ 124,000 total
    Exercise: $1.33Exp: 2032-01-26→ Common Stock (124,000 underlying)
  • Disposition to Issuer

    Stock Option (Right to Buy)

    [F1][F2][F9]
    2026-04-17−76,200→ 0 total
    Exercise: $34.65Exp: 2033-01-25→ Common Stock (76,200 underlying)
  • Award

    Stock Option (Right to Buy)

    [F4][F5][F1][F2][F9]
    2026-04-17+76,200→ 76,200 total
    Exercise: $1.33Exp: 2033-01-25→ Common Stock (76,200 underlying)
  • Disposition to Issuer

    Stock Option (Right to Buy)

    [F1][F2]
    2026-04-17−110,500→ 0 total
    Exercise: $17.44Exp: 2034-01-23→ Common Stock (110,500 underlying)
  • Award

    Stock Option (Right to Buy)

    [F4][F5][F1][F2]
    2026-04-17+110,500→ 110,500 total
    Exercise: $1.33Exp: 2034-01-23→ Common Stock (110,500 underlying)
  • Disposition to Issuer

    Stock Option (Right to Buy)

    [F1][F2]
    2026-04-17−113,300→ 0 total
    Exercise: $11.14Exp: 2035-01-23→ Common Stock (113,300 underlying)
  • Award

    Stock Option (Right to Buy)

    [F4][F5][F1][F2]
    2026-04-17+113,300→ 113,300 total
    Exercise: $1.33Exp: 2035-01-23→ Common Stock (113,300 underlying)
Footnotes (9)
  • [F1]On April 17, 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 2015 Equity Incentive Plan, as amended (the "2015 Plan"), or the Issuer's 2020 Stock Option and Incentive Plan, as amended (the "2020 Plan"), as applicable, 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 3 or 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 3 originally filed on June 2, 2020 from January 23, 2029 to the correct expiration date of January 24, 2029.
  • [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 Corporate Transaction (as defined by the 2015 Plan) or 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).
  • [F6]The expiration date has been updated from the Form 3 originally filed on June 2, 2020 from March 30, 2030 to the correct expiration date of March 31, 2030.
  • [F7]The expiration date has been updated from the Form 4 originally filed on January 26, 2021 from January 22, 2031 to the correct expiration date of January 23, 2031.
  • [F8]The expiration date has been updated from the Form 4 originally filed on February 2, 2022 from January 25, 2032 to the correct expiration date of January 26, 2032.
  • [F9]The expiration date has been updated from the Form 4 originally filed on January 27, 2023 from January 24, 2033 to the correct expiration date of January 25, 2033.
Signature
/s/ Jennifer Woo, attorney-in-fact|2026-04-17

Documents

1 file
  • 4
    wk-form4_1776458561.xmlPrimary

    FORM 4