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Kailera Therapeutics, Inc.·4

Apr 20, 6:00 PM ET

Kaplan Andrew T. 4

Research Summary

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Kailera (KLRA) 10% Owner Andrew Kaplan Buys $134M Stock

What Happened
Andrew T. Kaplan, a reported 10% owner of Kailera Therapeutics (KLRA), made a large open‑market purchase and converted preferred/derivative securities into common stock. On April 20, 2026 he purchased 8,398,438 shares at $16.00 per share for a total cash outlay of $134,375,008. The filing also records conversion of 17,857,143 shares of a derivative (Series B Preferred) into common stock and a prior grant/award of 38,300 shares (derivative) reported April 16, 2026. Net acquisitions reported equal roughly 26,293,881 common shares (conversion + purchase + award).

Key Details

  • Transaction dates: grant/award on 2026-04-16; conversions and open‑market purchase on 2026-04-20. Filing date: 2026-04-20.
  • Purchase: 8,398,438 shares at $16.00 each = $134,375,008 total. (Transaction code P = purchase.)
  • Conversions: 17,857,143 derivative shares converted into common stock (reported as both acquired common and disposed derivative). (Transaction code C = conversion of derivative.)
  • Award: 38,300 derivative shares granted on 2026-04-16 (Transaction code A = award/grant). Per footnote, options/awards vest 100% on April 16, 2027.
  • Beneficial ownership notes: some securities are held by BCPE Perseus Investor, LP; Mr. Kaplan is a partner at Bain Capital Investors and may be deemed to share voting/dispositive power over BCPE Perseus holdings but disclaims beneficial ownership except for his pecuniary interest (see footnotes).
  • Filing timeliness: report filed on 2026-04-20 and covers activity on 4/16 and 4/20 (no explicit late-filing flag shown in the filing summary provided).

Context
The headline item is the ~$134.4M open‑market purchase, a significant insider buy. The conversion entries reflect preferred stock conversion into common shares (a non‑cash corporate event) rather than a market trade. As a reported 10% owner and Bain Capital partner, Kaplan’s purchases may reflect institutional allocation decisions; the filing notes he may share voting power over related LP holdings but disclaims direct beneficial ownership beyond his pecuniary interest.