HEALY JAMES 4

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

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Updated May 4, 2026

Seaport Therapeutics (SPTX) Director James Healy Converts Preferred to Common

What Happened

James Healy, a director of Seaport Therapeutics (SPTX), reported conversion of preferred stock into common stock on May 4, 2026. He surrendered 8,578,946 shares of preferred (two conversion items) and received 2,731,538 shares of common stock (two acquisition items). The conversion was automatic in connection with the company's IPO; no cash changed hands (disposition price $0.00; acquisition price N/A). The conversion ratio reported matches 3.1407 preferred-for-1 common share.

Key Details

Transaction date: 2026-05-04 (reported same day).
Converted (disposed) preferred: 8,578,946 shares (reported at $0.00).
Common shares received (acquired): 2,731,538 shares (acquisition price N/A).
Conversion ratio: ~3.1407 preferred → 1 common (per filing footnote).
Shares owned after transaction: not specified in this filing.
Notable footnotes:
- F1: Series A-2 and Series B preferred automatically converted to common on IPO closing at one-for-3.1407 basis without further consideration.
- F2: The converted securities are directly held by Sofinnova Venture Partners XI, L.P.; Healy is a managing member of the general partner and disclaims beneficial ownership except to the extent of any pecuniary interest.
Filing appears timely (period of report and filing date both 2026-05-04).

Context

This was a conversion of derivative securities (preferred stock) into common shares tied to the IPO—not a sale or open-market purchase. No proceeds were received by the reporting person in this conversion.
The position is held by a venture investor (SVP XI); the director reports in relation to that entity and disclaims direct beneficial ownership, so this reflects institutional holdings rather than a unilateral insider buy/sell decision.

Form 4

Period: 2026-05-04

Director

Transactions

Conversion
Common Stock
[F1][F2]
2026-05-04+1,927,159→ 1,927,159 total(indirect: By Sofinnova Venture Partners XI, L.P.)
Conversion
Common Stock
[F1][F2]
2026-05-04+804,379→ 2,731,538 total(indirect: By Sofinnova Venture Partners XI, L.P.)
Conversion
Series A-2 Preferred Stock
[F1][F2]
2026-05-04−6,052,631→ 0 total(indirect: By Sofinnova Venture Partners XI, L.P.)
→ Common Stock (1,927,159 underlying)
Conversion
Series B Preferred Stock
[F1][F2]
2026-05-04−2,526,315→ 0 total(indirect: By Sofinnova Venture Partners XI, L.P.)
→ Common Stock (804,379 underlying)

Footnotes (2)

[F1]Each share of Series A-2 and Series B Preferred Stock (collectively, 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]These shares are directly held by Sofinnova Venture Partners XI, L.P. ("SVP XI"). Sofinnova Management XI, L.P. ("SM XI LP") is the general partner of SVP XI, and Sofinnova Management XI, L.L.C. ("SM XI") is the general partner of SM XI LP. The Reporting Person is a managing member of SM XI and may be deemed to share voting and investment discretion with respect to securities directly held by SVP XI. The Reporting Person disclaims beneficial ownership of the securities directly held by SVP XI. This report shall not be construed as an admission that he is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose, except to the extent of his pecuniary interest therein, if any.

Signature

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

1 file