Skye Bioscience, Inc. has filed an 8-K report detailing significant corporate actions taken on March 31, 2026. The company announced a stock option repricing for all outstanding stock options held by current full-time employees, including executive officers. The exercise price of the repriced options has been reduced to $0.6150 per share, aligning with the closing price of the company's common stock on the repricing date. This move is aimed at retaining and motivating key employees without incurring additional dilution from new equity grants. The total number of shares affected by this repricing is 2,420,978, with previous exercise prices ranging from $1.055 to $14.56.

Additionally, the company appointed John P. Sharp as the Chief Financial Officer, effective immediately. Mr. Sharp brings over 30 years of experience in financial and business planning, having previously served as CFO for several biopharmaceutical companies. His appointment is expected to enhance the company's financial strategy and operational execution. The board believes that these changes will positively impact the company's performance and shareholder value.

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