FRIEDMAN MICHAEL R. 4
4 · Galera Therapeutics, Inc. · Filed Apr 9, 2026
Research Summary
AI-generated summary of this filing
Galera (GRTX) Director Michael Friedman Converts Preferred into 5.34M Shares
What Happened Michael R. Friedman, a director of Galera Therapeutics (GRTX), effected a conversion of Series B Non‑Voting Convertible Preferred Stock into common stock on April 7, 2026. The filing shows he received 5,336,870 shares of common stock (acquired via conversion) and surrendered 5,336.87 shares of Series B preferred (disposed), reflecting a 1,000:1 conversion ratio. No cash changed hands as part of the conversion (reported price $0.00 / N/A).
Key Details
- Transaction date: April 7, 2026; Form 4 filed April 9, 2026 (appears timely, no late-filing flag).
- Shares received: 5,336,870 common shares (conversion of derivative security, code C).
- Securities surrendered: 5,336.87 shares of Series B preferred reported as disposed at $0.00.
- Footnote F1: The company amended the Series B designation (Feb 12, 2026) allowing the board to effect mandatory conversions; a partial mandatory conversion was effected on Apr 7, 2026.
- Footnote F2: The securities are held by Equity Trust Company, Custodian FBO Michael Friedman Roth IRA.
- Filing does not state the total common shares owned by Friedman after the conversion.
Context
- This was a non‑cash conversion of preferred into common stock (not an open‑market purchase or sale). Conversions are corporate actions driven by security terms and board decisions rather than a straightforward insider buy/sell signal.
- The Series B preferred has no expiration date; the board exercised its discretion to partially convert outstanding preferred on this date.
Insider Transaction Report
Form 4
FRIEDMAN MICHAEL R.
Director
Transactions
- Conversion
Common Stock
[F1][F2]2026-04-07+5,336,870→ 5,336,870 total(indirect: See Footnote) - Conversion
Series B Preferred Stock
[F1][F2]2026-04-07−5,336.87→ 2,989.399 total(indirect: See Footnote)→ Common Stock (5,336,870 underlying)
Footnotes (2)
- [F1]On February 12, 2026, the Issuer filed a Certificate of Amendment (the "Amendment") to the Certificate of Designation of Preferences, Rights, and Limitations of Series B Non-Voting Convertible Preferred Stock. The Amendment provided that, in the sole discretion of the Issuer's board of directors, the Issuer may elect to convert, in whole or in part, outstanding shares of Series B Non-Voting Convertible Preferred Stock ("Series B Preferred Stock") into a number of shares of Common Stock calculated based on the Conversion Ratio (defined as 1,000 shares of Common Stock issuable upon the conversion of each share of Series B Preferred Stock) (a "Mandatory Conversion"). On April 7, 2026, the Issuer effected a partial Mandatory Conversion of Series B Preferred Stock, including shares of Series B Preferred Stock held by the Reporting Person. The shares of Series B Preferred Stock have no expiration date.
- [F2]These securities are held by Equity Trust Company, Custodian FBO Michael Friedman Roth IRA.
Signature
/s/ J. Mel Sorensen, Attorney-in-Fact for Michael Friedman|2026-04-09