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Seaport Therapeutics, Inc.·4

May 4, 6:05 PM ET

PAUL STEVEN M 4

Research Summary

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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.