Russel Harold McMeekin, Global Corporate President of OpenWorld, Inc. (NASDAQ:OPNW), filed a Form 4 on November 9, 2026, disclosing a stock option amendment transaction dated November 5, 2026, in which an outstanding option was canceled and replaced with a new option at a revised exercise price.

Key Highlights

  • Option canceled: A stock option to purchase 469,567 shares of Common Stock at an exercise price of $6.51 was disposed of on November 5, 2026, leaving McMeekin with 0 shares under that option.
  • Replacement option granted: A new stock option to purchase 469,567 shares of Common Stock at $6.54 was granted on November 5, 2026, with an expiration date of August 27, 2036.
  • Existing option retained: A separate stock option to purchase 216,355 shares at $2.18, expiring December 7, 2035, remained on the books with 216,355 derivative securities beneficially owned.
  • Merger context: According to the filing, the amended option was originally assumed in connection with the merger of OpenWorld, Ltd. into OpenWorld, Inc. on September 30, 2026.
  • Vesting schedule: For both the replacement option and the $2.18 option, 1/3rd vests on the one-year anniversary of the vesting commencement date of September 15, 2024, with 1/36th vesting monthly thereafter, fully vesting on the three-year anniversary of that date.
  • Signing authority: The form was signed by Gerard Hernandez as Attorney-in-Fact for Russel Harold McMeekin on November 9, 2026.

OpenWorld Global Corporate President's Option Amendment Detailed

According to the Form 4 filing, the two reported transactions on November 5, 2026, constituted an amendment of an outstanding stock option held by McMeekin in his role as Global Corporate President of OpenWorld, Inc. The filing states that the transaction "involved an amendment of an outstanding option, resulting in the cancellation of the 'old' option and the grant of a replacement option." The canceled option carried an exercise price of $6.51 per share for 469,567 shares of Common Stock, while the replacement option carries an exercise price of $6.54 per share for the same 469,567 shares, also expiring August 27, 2036. Both options are held directly.

The filing notes the original option was assumed when OpenWorld, Ltd. merged into OpenWorld, Inc. on September 30, 2026. For the replacement option, the vesting commencement date is September 15, 2024, with one-third vesting on the one-year anniversary of that date, and 1/36th vesting each succeeding calendar month, so that all options are "fully vested on the 3-year anniversary of the Vesting Commencement Date," subject to McMeekin's continuous service.

Separately, the filing also reflects an existing stock option to purchase 216,355 shares of Common Stock at $2.18, expiring December 7, 2035, which was not part of the amendment transaction. That option carries the same vesting schedule tied to the September 15, 2024 vesting commencement date, and McMeekin beneficially owns 216,355 derivative securities under it on a direct basis.

What Was Disclosed

McMeekin's Form 4 disclosed the cancellation of a 469,567-share stock option at $6.51 and simultaneous grant of a replacement option at $6.54, both expiring August 27, 2036, along with an unchanged 216,355-share option at $2.18 expiring December 7, 2035.