BERNS PAUL L 4

What Happened
Paul L. Berns, reported as a 10% owner, purchased 1,250,000 shares (reported as restricted stock units) at $16.00 per share for a total transaction value of $20,000,000. The purchase is reported as an open market or private purchase (code P) on a Form 4 with a transaction date of 2026-06-22 and a filing date of 2026-06-24. This was an acquisition (buy), not a sale.

Key Details

• Transaction date: 2026-06-22; Form 4 filed: 2026-06-24 (timely filing).
• Price: $16.00 per share; Shares acquired: 1,250,000; Total value: $20,000,000.
• Shares owned after transaction: Not specified in the filing.
• Footnote highlights:
  • F1: The securities are directly held by ARCH Venture Fund XIII, L.P. AVP XIII entities and the AVP XIII LLC investment-committee members (including Paul Berns) may be deemed to beneficially own the shares but disclaim ownership except to the extent of any pecuniary interest.
  • F2: Each acquired share is represented by a restricted stock unit (RSU) — a contingent right to receive one share upon settlement. The RSUs vest in full on June 17, 2028, subject to the reporting person’s continuous service.
• Transaction code: P = Purchase.

Context
Paul Berns is reported as a 10% owner and an investment‑committee member of ARCH-related entities; this appears to be an institutional/investor acquisition rather than an executive selling stock. Because the purchase is in RSUs that vest in 2028, these units are not immediately transferable shares and depend on future vesting/settlement. The filing is timely and factual; it does not state any motivation for the purchase.