July 3, 2025 · Form 4 insider transaction
Smith Nicholas Conrad sold 202,329 shares of ANRO, a transaction worth N/A. The trade was recorded as disposition to the issuer and disclosed on an SEC Form 4, filed 5 days after the transaction.
The transactions reported herein reflect a one-time stock option repricing (the "Option Repricing") effective on July 3, 2025 (the "Repricing Date"). The Option Repricing applies to options with exercise prices greater than $2.35 per share held by continuing employees of the Issuer as of the Repricing Date.; Pursuant to the Option Repricing, the exercise price of the repriced options has been amended to reduce the exercise price to $2.35 per share, the closing price of the Issuer's common stock on the Repricing Date. However, if an employee exercises a repriced option before the end of a retention period of one year (subject to earlier termination in certain circumstances), such employee will be required to pay the original exercise price per share of such repriced option. There is no change to the vesting schedules, expiration dates of, or number of shares underlying the repriced options.; One-third (1/3rd) of the shares underlying the option vested upon the completion of the Issuer's initial public offering and two-thirds (2/3) of the shares underlying the option vested or shall vest over a period of four years. 25% of the shares underlying the time-based portion vested on December 20, 2024, and 1/48 of the shares underlying the time-based portion vested or shall vest on a monthly basis thereafter, subject to the Reporting Person's continuous service through such vesting date.