Guild Wars 2

After seeing this notice in the Feature Update:
https://www.guildwars2.com/en/news/account-bound-wxp-legendaries-and-ascended-gear/?utm_source=client

I am intrigued as to what will happen to the stats that the weapon/ Armour currently holds.

I currently have Ascended rings on my Guardian that are surplus to requirement, the stats however, are not suitable for my Thief.
How, if at all will stats be changeable?

On ascended items? Nope. On legendary? Yes.