Bruno Julianne 4
4 · Galecto, Inc. · Filed Feb 12, 2026
Research Summary
AI-generated summary of this filing
Galecto (GLTO) Director Bruno Julianne Converts Preferred to 129,000 Shares
What Happened Director Bruno Julianne converted 129 shares of the company's Series C Non‑Voting Convertible Preferred Stock into 129,000 shares of Galecto common stock on February 9, 2026. The conversion was automatic under the preferred's terms at a 1,000:1 ratio; the reported price per share was $0.00, so no cash changed hands. This was a conversion event (derivative exercise), not an open‑market purchase or sale.
Key Details
- Transaction date: February 9, 2026; reported on Form 4 filed February 12, 2026.
- Securities received: 129,000 shares of common stock; consideration reported $0.00.
- Securities surrendered/disposed: 129 shares of Series C preferred (converted).
- Shares owned after transaction: the filing reports the 129,000 common shares were issued on conversion; total common holdings after the conversion are not specified in the filing.
- Notable footnotes:
- The conversion followed stockholder approval allowing Series C conversion; each Series C share converts into 1,000 common shares (F1, F3).
- The new common shares are subject to a 60‑day lock‑up entered into with the offering underwriters, effective following the final prospectus supplement dated Feb 10, 2026 (F1, F2).
- The Series C preferred has no expiration date (F3).
- Filing timeliness: the Form 4 was filed three days after the Feb 9 transaction (filed Feb 12). Form 4s are generally due within two business days; this appears to be filed after that window.
Context This was a mandatory conversion of preferred stock into common stock following shareholder approval, not a market buy or sale. Conversions like this are typically routine corporate actions tied to financing/charter terms and do not by themselves signal insider buying or selling intent. The 60‑day lock‑up limits immediate resale of the newly issued common shares.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-02-09+129,000→ 137,032 total - Exercise/Conversion
Series C Preferred Stock
[F3][F1][F2]2026-02-09−129→ 0 total→ Common Stock (129,000 underlying)
Footnotes (3)
- [F1]On February 9, 2026, the Issuer's stockholders approved the issuance of Common Stock upon conversion of the Issuer's Series C Non-Voting Convertible Preferred Stock, par value $0.00001 per share ("Series C Preferred Stock") (the "Requisite Stockholder Approval"). Accordingly, pursuant to the terms of the Certificate of Designations of Preferences, Rights and Limitations of Series C Non-Voting Convertible Preferred Stock, 129 shares of Series C Preferred Stock held by the Reporting Person were converted into 129,000 shares of Common Stock. The securities of the Issuer held by the Reporting Person, including the shares of Common Stock received upon conversion of the Series C Preferred Stock, are subject to the terms a lock-up agreement entered into with the underwriters for the Issuer's public offering, pursuant to which the Reporting Person agreed, subject to certain exceptions, not to directly or indirectly sell or otherwise transfer securities of the Issuer for a period of 60 days
- [F2](Continued from footnote 1) following the date of the final prospectus supplement relating to the public offering, which was February 10, 2026.
- [F3]Following receipt of the Requisite Stockholder Approval, each share of Series C Preferred Stock automatically converted into 1,000 shares of Common Stock, subject to certain beneficial ownership limitations. The Series C Preferred Stock has no expiration date.