HEALY JAMES 4

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.