Dentzer James E 4

What Happened

• James E. Dentzer, President & CEO and a director of Curis, reported automatic conversions on March 20, 2026. He acquired 133,333 shares of Curis common stock by conversion of derivative securities (Series B Convertible Non‑Redeemable Preferred Stock). The filing also shows a related conversion/disposition of 100 derivative shares (reported as a derivative disposition).
• The filing’s footnote states each share of Series B preferred automatically converted into 1,333.33 common shares at 5:00 p.m. ET on March 20, 2026. Converting 100 Series B preferred shares produced 133,333 common shares. The footnote also notes each “Security” (one Series B preferred plus attached warrants) was sold to the reporting person at $1,000 per Security (implying the 100 Securities cost $100,000 in aggregate).

Key Details

• Transaction date: March 20, 2026 (reported on Form 4 filed March 23, 2026).
• Transaction type: Conversion (derivative → common). No per‑share cash price for the conversion is reported (automatic conversion per Certificate of Designations).
• Shares reported acquired: 133,333 common shares. Additional line reports conversion/disposition of 100 derivative shares.
• Cost basis noted in footnote: the underlying Securities were sold to the reporting person at $1,000 per Security (100 Securities → $100,000 total).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Timeliness: Form 4 was filed on March 23, 2026 for a March 20 transaction (within the standard two business‑day window).

Context

• This was an automatic conversion of preferred stock into common stock under the company’s Certificate of Designations, not an open‑market purchase or sale. Conversions like this generally reflect contract terms (capital structure changes) rather than an executive’s buy/sell decision.
• The filing includes derivative-related items (warrants/preferred components). For retail investors, the key takeaway is the increase in common shares outstanding held by the insider due to conversion; it does not by itself signal a buy or sell sentiment.