Gladstein Lana 4

What Happened

• Lana Gladstein, General Counsel of Seaport Therapeutics (SPTX), reported derivative conversions and a time‑based equity award. On 2026-05-04 she reported conversion of derivative securities resulting in 33,515 common shares acquired and 105,263 common shares reported as disposed (both conversions show $0.00 consideration). On 2026-04-30 she received a derivative grant of 63,680 shares reported at $0.00; that award is subject to vesting. All transactions are reported on the Form 4 filed 2026-05-04.

Key Details

• Transaction dates and reported amounts:
  • 2026-04-30: Grant/award (derivative) — 63,680 shares at $0.00 (acquired; see vesting note).
  • 2026-05-04: Conversion of derivative security — 33,515 shares acquired (no cash consideration reported).
  • 2026-05-04: Conversion of derivative security — 105,263 shares disposed (no cash consideration reported).
• Consideration: $0.00 reported for the grant and conversions — indicates internal conversion/award mechanics, not an open‑market purchase or sale for cash.
• Shares owned after the transactions: Not specified in the provided excerpt of the filing.
• Filing: Form 4 filed 2026-05-04 (covers transactions dated 2026-04-30 and 2026-05-04). No late‑filing flag noted in the data provided.

Context

• Footnote F1 explains the conversions: each share of Series B Preferred was convertible into common stock on a one‑for‑3.1407 basis and was automatically converted upon the issuer’s IPO closing — the reported conversions relate to that conversion feature rather than an open‑market trade.
• Footnote F2 describes the 63,680‑share award: it vests in 48 equal monthly installments beginning after April 30, 2026, subject to continued service.
• For retail investors: conversions of preferred into common and zero‑consideration derivative awards are typically administrative IPO/compensation events and do not by themselves indicate a purchase or sale in the market.