April 28, 2020
More on “Repricing Options & Exchange Programs”
– Lynn Jokela
Not too long ago, I blogged about repricing options & exchange programs and noted there may be renewed discussion about them due to market volatility and depressed stock prices. There’s definitely more discussion, although it’s hard to say how many companies will move forward with a repricing or exchange program. For those wanting to get up to speed on considerations if they elect to go down this path, here’s a recent K&L Gates blog that touches on ISS, Exchange Act, Securities Act and Nasdaq/NYSE issues.
Recent examples of option exchange programs can be found in proxy statements filed by Gogo, MacroGenics and Unum Therapeutics.