TAKANASHI KEN 4

What Happened

• Ken Takanashi, a director of Wave Life Sciences (WVE), reported conversion of 3,901,348 Series A preferred shares into 3,901,348 ordinary shares on March 23, 2026. The conversion price/value is reported as $0.00 (one-for-one conversion), so no cash changed hands. This was a corporate conversion of preferred stock to common stock, not an open‑market buy or sale by the director.

Key Details

• Transaction date: March 23, 2026; Form 4 filed: March 26, 2026 (filed one business day after the two-business-day Section 16 deadline).
• Reported entries: conversion (acquired) 3,901,348 shares @ $0.00 and conversion (disposed/derivative) 3,901,348 @ $0.00 (conversion of derivative security).
• Shares reported as held after the transaction: an aggregate of 9,606,408 shares held by related entities (6,107,593 shares held by SNBL USA and 3,498,815 held by SNBL) per the filing.
• Footnotes: SNBL USA, Ltd. and Shin Nippon Biomedical Laboratories, Ltd. elected to convert Series A preferred into ordinary shares one-for-one; processing and time-zone issues delayed confirmation of the effective date. Takanashi is a director of SNBL USA and SNBL and may be deemed to beneficially own the shares held by those entities, but he disclaims beneficial ownership except to the extent of any pecuniary interest.

Context

• This was a corporate conversion of preferred stock into common stock (derivative conversion), not a purchase or sale in the market. Such conversions reflect capital-structure changes rather than an insider signaling buy/sell intent.
• The filing was submitted on March 26 for a March 23 conversion—note this is one business day later than the standard two-business-day Form 4 filing window under Section 16; the filing cites processing/time-zone issues for the delay.