Skye Bioscience reprices 2.4M underwater stock options to $0.615, appoints fractional CFO

Filed April 3, 2026 · Period ending March 31, 2026 · ~1 min read

Key Changes

• high

  Company repriced all employee stock options granted before Dec 2025 to $0.615/share (current stock price), affecting 2.4M shares with original exercise prices ranging from $1.055 to $14.56. CEO received repricing on 1.1M options (46% of total), originally priced up to $14.56.

  Item 5.02: Option Repricing verify on EDGAR →
• high

  Board justified repricing as retention tool to avoid additional dilution or cash compensation costs, signaling concern about employee departures and limited financial flexibility to offer alternative incentives.

  Item 5.02: Board Rationale verify on EDGAR →
• medium

  Appointed John P. Sharp as CFO through consulting firm at $25,600/month for up to 64 hours (fractional arrangement), rather than as full-time employee. Sharp has 30+ years finance experience including CFO roles at PhaseBio and Ligand Pharmaceuticals.

  Item 5.02: CFO Appointment verify on EDGAR →