Cummings Keith Lamont 4

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.