PAUL STEVEN M 4

4 · Seaport Therapeutics, Inc. · Filed May 4, 2026

AI-generated summary of this filing

Updated May 4, 2026

Seaport Therapeutics Director Paul Steven M Receives Awards, Converts Derivatives

What Happened

Paul Steven M, a director of Seaport Therapeutics (SPTX), received two derivative awards on 2026-04-30 totaling 1,003,450 shares (991,192 and 12,258) at $0.00, and on 2026-05-04 completed conversions of derivative securities that resulted in the acquisition of 67,031 shares and the disposition of 210,526 shares. All reported transactions involve derivative securities (awards/options/preferred conversion) and were reported on a Form 4 filed May 4, 2026. No cash consideration was reported for the awards or conversions.

Key Details

Transaction dates/prices:
- 2026-04-30: Grant/award of 991,192 derivative shares @ $0.00 (acquired).
- 2026-04-30: Grant/award of 12,258 derivative shares @ $0.00 (acquired).
- 2026-05-04: Conversion of derivative security — 67,031 shares acquired (price N/A on form).
- 2026-05-04: Conversion of derivative security — 210,526 shares disposed @ $0.00.
Shares owned after transaction: Not specified in the supplied filing excerpt.
Footnotes of note:
- F1: Series B Preferred Stock was convertible into Common on a 1-for-3.1407 basis and automatically converted upon the closing of the issuer’s IPO without payment.
- F2: The shares underlying one option award vest in full on April 30, 2027, subject to continued service.
Timeliness: Form 4 was filed May 4, 2026 for transactions dated April 30 and May 4; the April 30 transactions were reported more than two business days after the trade date and thus appear to be late relative to the standard Form 4 reporting window.

Context

These entries are mainly derivative transactions (awards and conversions). A $0.00 grant typically indicates a stock award or RSU/option-type award rather than an open-market purchase. Conversion entries generally reflect the conversion or exchange of a derivative (for example, preferred stock into common) rather than a cash sale; footnote F1 explains that certain Preferred shares converted into Common upon the IPO. The filing shows no cash proceeds reported and does not disclose post-transaction total ownership in the excerpt provided.

Form 4

Period: 2026-04-30

Director

Transactions

Conversion
Common Stock
[F1]
2026-05-04+67,031→ 863,031 total
Award
Stock Option (Right to Buy)
[F2]
2026-04-30+12,258→ 12,258 total
Exercise: $18.00Exp: 2036-04-29→ Common Stock (12,258 underlying)
Award
Stock Option (Right to Buy)
2026-04-30+991,192→ 991,192 total
Exercise: $18.00From: 2026-04-30Exp: 2036-04-29→ Common Stock (991,192 underlying)
Conversion
Series B Preferred Stock
[F1]
2026-05-04−210,526→ 0 total
→ Common Stock (67,031 underlying)

Footnotes (2)

[F1]Each share of Series B Preferred Stock (the "Preferred Stock") was convertible into Common Stock of the Issuer on a one-for-3.1407 basis at the option of the holder, and automatically converted upon the closing of the Issuer's initial public offering without payment of further consideration. The Preferred Stock had no expiration date.
[F2]The shares underlying this option shall vest in full on April 30, 2027, subject to the Reporting Person's continued service on such vesting date.

Signature

/s/ Lana Gladstein, Attorney-in-Fact|2026-05-04

1 file