Gerard Albert Palana Hernandez, Chief Financial Officer of OpenWorld, Inc. (NASDAQ:OPNW), filed a Form 4 on November 9, 2026, disclosing a stock option amendment and his current beneficial ownership of company securities as of November 5, 2026.

Key Highlights

  • Option amendment: An outstanding stock option originally priced at $6.51 was cancelled and replaced with a new option priced at $6.54, both covering 145,035 shares of Common Stock with an expiration date of 08/27/2036.
  • Replacement option fully vested: According to the filing, the replacement option granted on 11/05/2026 "is fully vested as of the date of this report."
  • Merger context: The filing states the original option "was originally assumed in connection with the merger of OpenWorld, Ltd. into OpenWorld, Inc. on September 30, 2026."
  • Additional vested option: Hernandez also holds a separate stock option to purchase 154,539 shares at $2.18, exercisable through 12/07/2035, which the filing states is fully vested.
  • Indirect common stock holdings: Hernandez beneficially owns 386,348 shares of Common Stock through GM Consulting Group Inc. and 17,077 shares through LB2 Capital Partners LLC.
  • No direct holdings reported: All beneficial ownership of common stock and derivative securities is held indirectly through GM Consulting Group Inc. or LB2 Capital Partners LLC.

OpenWorld CFO Discloses Option Amendment Tied to September 2026 Merger

According to the Form 4 filed with the SEC, Hernandez reported two transactions dated November 5, 2026, both classified under Table II for derivative securities. The filing describes the events as an amendment to an existing option: the cancellation of a stock option to purchase 145,035 shares at $6.51 per share, and the simultaneous grant of a replacement option to purchase the same 145,035 shares at $6.54 per share. Both options carry an expiration date of 08/27/2036. The filing notes that the original option was assumed in connection with the merger of OpenWorld, Ltd. into OpenWorld, Inc. on September 30, 2026, and that the replacement option is fully vested as of the filing date.

In addition to the amended option, the filing reports that Hernandez holds a third derivative security: a stock option to purchase 154,539 shares of Common Stock at an exercise price of $2.18, expiring 12/07/2035. This option is also described in the filing as fully vested. All three options are held indirectly through GM Consulting Group Inc., over which the filing states Hernandez has beneficial ownership.

On the non-derivative side, the filing reports Hernandez's indirect beneficial ownership of 386,348 shares of Common Stock through GM Consulting Group Inc. and 17,077 shares through LB2 Capital Partners LLC. No directly held shares or derivative securities were reported. The Form 4 was signed by Gerard Hernandez and dated November 9, 2026, covering transactions with a date of earliest transaction of November 5, 2026.

What Was Disclosed

The filing disclosed an amendment to a stock option held by OpenWorld's CFO, Gerard Hernandez, involving the cancellation of a $6.51 option and the grant of a $6.54 replacement, both for 145,035 shares, along with his indirect beneficial ownership of common stock and two additional vested options.