Lazar David E. 4

What Happened

David E. Lazar, a director of Indaptus Therapeutics (INDP), sold all of his 700,000 Series AAA preferred shares and 196,800 Series AA preferred shares in a private securities purchase transaction that closed on March 23, 2026. The filing lists these as dispositions (transaction code S) of convertible preferred stock; no dollar price per share or total proceeds are reported in the Form 4. The sold Series AAA shares are convertible into an aggregate of 105,000,000 common shares and the sold Series AA shares into an aggregate of 3,936,000 common shares. After the closing, Lazar retained 103,200 Series AA preferred shares (convertible into 2,064,000 common shares).

Key Details

• Transaction date (closing): March 23, 2026 (Securities Purchase Agreement entered March 19, 2026).
• Transaction type: Disposition of derivative securities (preferred stock convertible into common); filing lists sale (S).
• Shares sold: 700,000 Series AAA; 196,800 Series AA.
• Conversion potential of sold securities: 105,000,000 common (AAA) + 3,936,000 common (AA) = 108,936,000 common shares.
• Shares retained after transaction: 103,200 Series AA preferred (convertible into 2,064,000 common).
• Price/proceeds: Not reported in the Form 4 (N/A).
• Footnotes: Sale pursuant to a Securities Purchase Agreement (March 19, 2026) and closed March 23, 2026; Series AA and AAA preferred shares are perpetual and convertible at holder’s option for no additional consideration (per footnotes F1–F5).
• Filing timeliness: The Form 4 does not indicate a late filing.

Context

These were sales of convertible preferred securities, not direct sales of common stock. Because the preferred shares are convertible at the holder’s option and are perpetual, they represent potential common shares for any buyer who chooses to convert; the Form 4 does not disclose the purchase price or buyer (private transaction). Sales by insiders are common and do not by themselves indicate company performance; purchases typically signal more direct insider bullishness.