Zung Jonathan B. 4

What Happened

• Jonathan B. Zung, Chief Development Officer of Curis, Inc. (CRIS), reported acquisitions on 2026-03-17 labeled as grants/awards (derivative securities). The Form 4 lists four entries: 50 shares and three entries of 66,667 shares (total reported = 200,051 derivative shares).
• Footnotes clarify these are Series B Convertible Non‑Redeemable Preferred Stock sold together with Series A, B and C warrants (one of each per preferred) at a purchase price of $1,000 per Security to the reporting person. Each Series B preferred is scheduled to automatically convert into 1,333.33 shares of common stock at 5:00 PM ET on March 20, 2026, subject to the Certificate of Designations and applicable beneficial ownership limits. The Series A and C warrants became immediately exercisable on March 17, 2026; Series B warrants are exercisable with special termination and exercise‑price reset rules (see Key Details).

Key Details

• Transaction date: March 17, 2026. Form filed: March 18, 2026 (timely).
• Consideration: $1,000.00 per Security (each Security = one Series B preferred + Series A, B, C warrants), per footnote. The Form reports the acquired instruments as derivative/common‑share equivalents (200,051 reported).
• Conversion: Each Series B preferred converts into 1,333.33 common shares at 5:00 PM ET on March 20, 2026, subject to ownership limits.
• Warrants: Series A and C warrants became immediately exercisable on March 17, 2026. Series B warrants are exercisable and will terminate per defined clinical‑trial milestone timing, with a potential exercise price reset if the stock price is below $0.75 at the termination date.
• Shares owned after transaction: not provided in the data excerpt.
• Filing timeliness: Filed next business day — no late filing indicated.

Context

• This is an acquisition of privately issued convertible preferred securities with attached warrants (a financing/structured grant), not an open‑market purchase of common stock. Such transactions can convert into a large number of common shares (potential dilution) when the preferred converts on March 20, 2026.
• For retail investors: acquisitions are generally more informative than routine sales, but this appears to be participation in a structured financing by an insider rather than a market buy; treat as factual disclosure of ownership change rather than a direct market sentiment signal.