OnKure reprices underwater stock options for CEO and other executives
The board approved a repricing that cut the exercise price on eligible options to $4.14 per share, with a retention condition tied to continued service.
OnKure Therapeutics said its board approved an option repricing effective August 7, 2026. On August 7, 2026, the Board of Directors of OnKure Therapeutics approved an option repricing.1
The repricing covered a broad set of underwater grants. It generally applied to all outstanding and unexercised stock options to purchase Class A common stock granted prior to January 1, 2025, under the company's 2024 Equity Incentive Plan or 2021 Stock Incentive Plan, with an exercise price per share equal to or greater than $10.00, held by certain employees and consultants including each of the company's named executive officers.1
Named executives had significant option counts adjusted. Repriced options included 571,423 shares held by CEO Nicholas A. Saccomano, with original exercise prices ranging from $13.99 to $21.20 per share; 149,984 shares held by Chief Medical Officer Samuel Agresta, with original prices from $13.99 to $18.20; and 141,714 shares held by CFO Jason Leverone, with original prices from $13.99 to $21.20.1
The new strike price was set at the stock's closing level on the effective date. The new exercise price per share for repriced options is $4.14, the closing price of the company's Class A common stock on the effective date.1 A condition applies if the retention requirement is not met. If the optionee exercises a repriced option without achieving the retention requirement, the optionee must pay a premium exercise price equal to the original exercise price.1
No other terms changed. There were no changes to any eligible option's term to expiration, vesting criteria, or underlying number of shares, and each repriced option remains subject to the applicable plan and award agreement.1
The retention window differs by role. Senior management, including named executive officers, must remain a service provider through 18 months following the effective date, while other employees face a one-year requirement.1 The requirement is also satisfied if a change in control occurs or if the optionee's service ends due to death or disability.1
Scope of the repricing: about 40% of outstanding options under the plans had exercise prices above the $10.00 threshold before the repricing, and roughly 1.7 million shares in total were repriced, with original prices ranging from $13.99 to $24.59.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.