FRIEDMAN MICHAEL R. 4

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.