Osage University GP III, LLC 4
4 · Mobia Medical, Inc. · Filed May 12, 2026
Research Summary
AI-generated summary of this filing
Mobia Medical (MOBI) 10% Owner Osage GP Converts Securities, Buys 533,333 Shares
What Happened
- Osage University GP III (reporting for Osage University Partners III/IV entities), a disclosed ~10% holder of Mobia Medical (MOBI), reported multiple conversions of derivative securities into common stock and two open‑market purchases on May 11, 2026.
- The filing shows conversions of several derivative instruments (individual line items range from ~264k to ~3.9M shares) into common stock on May 11, 2026. Separately, Osage purchased 266,666 shares at $15.00 ($3,999,990) and 266,667 shares at $15.00 ($4,000,005) on May 11, 2026 — total market buys = 533,333 shares for $7,999,995.
- The report also documents prior grants/awards dated January 30, 2026 (large derivative awards shown in the filing), which were subsequently converted as described above.
Key Details
- Transaction dates and prices: conversions dated 2026-05-11 (multiple derivative conversions; no per‑share price applicable for conversion lines); open‑market purchases on 2026-05-11 at $15.00 per share (266,666 and 266,667 shares).
- Purchase value: $3,999,990 and $4,000,005; combined open‑market purchase = $7,999,995.
- Shares owned after transaction: the Form 4 lists many conversion and grant line items but does not state a single consolidated post‑transaction ownership total for the reporting GP in the filing summary.
- Notable footnotes:
- F1: Certain convertible notes automatically converted into common stock immediately prior to the issuer’s IPO (conversion price per note determined by formula in footnote).
- F4: Series F and Series E‑2 preferred stock converted into common stock immediately prior to the Offering.
- F2/F3: The securities are held by Osage University Partners III, LP and Osage University Partners IV, LP; the GP and GP managers may be deemed to share voting/dispositive power but disclaim beneficial ownership except for any pecuniary interest.
- F5: Some transactions occurred prior to the company’s registration of a class of equity securities and are reported under Rule 16a‑2(a).
- Timeliness: The filing was made on 2026-05-12. The May 11, 2026 transactions were reported promptly, but the January 30, 2026 grants/awards are included in this filing and were reported months after the grant date (appears late for those earlier grant line items).
Context
- The conversion entries reflect derivative securities (convertible notes, preferred shares, or awards) being converted into common stock — not open‑market purchases — so a per‑share purchase price is not applicable for those lines.
- The open‑market purchases (533,333 shares at $15) are direct buys and therefore a clearer bullish signal than conversions, but they should be interpreted with caution: Osage is an institutional/venture investor (GP/LP structure), not an individual insider trading for personal reasons.
- The filing contains many large line items and unusually large numeric values in grant fields (likely reflecting award/derivative accounting). Retail investors should treat the conversion activity as institutional capital structure changes around the company’s IPO rather than routine insider trading by an executive.
Insider Transaction Report
Form 4
Osage University GP III, LLC
10% Owner
Transactions
- Conversion
Common Stock
[F1][F2]2026-05-11+284,324→ 284,324 total(indirect: See Footnote) - Conversion
Common Stock
[F1][F3]2026-05-11+264,746→ 264,746 total(indirect: See Footnote) - Conversion
Common Stock
[F4][F2]2026-05-11+1,455,726→ 1,740,050 total(indirect: See Footnote) - Conversion
Common Stock
[F4][F3]2026-05-11+872,770→ 1,137,516 total(indirect: See Footnote) - Purchase
Common Stock
[F2]2026-05-11$15.00/sh+266,666$3,999,990→ 2,006,716 total(indirect: See Footnote) - Purchase
Common Stock
[F3]2026-05-11$15.00/sh+266,667$4,000,005→ 1,404,183 total(indirect: See Footnote) - Award
Convertible Notes
[F1][F5][F2]2026-01-30$3411892.25/sh+3,411,892.25$11,641,008,725,610→ 3,411,892.25 total(indirect: See Footnote)→ Common Stock (284,324 underlying) - Award
Convertible Notes
[F1][F5][F3]2026-01-30$3176955.03/sh+3,176,955.03$10,093,043,262,642→ 3,176,955.03 total(indirect: See Footnote)→ Common Stock (264,746 underlying) - Conversion
Convertible Notes
[F1][F2]2026-05-11−3,411,892.25→ 0 total(indirect: See Footnote)→ Common Stock (284,324 underlying) - Conversion
Convertible Notes
[F1][F3]2026-05-11−3,176,955.03→ 0 total(indirect: See Footnote)→ Common Stock (264,746 underlying) - Conversion
Series E-2 Preferred Stock
[F4][F2]2026-05-11−3,930,352→ 0 total(indirect: See Footnote)→ Common Stock (1,128,438 underlying) - Conversion
Series F Preferred Stock
[F4][F2]2026-05-11−1,139,946→ 0 total(indirect: See Footnote)→ Common Stock (327,288 underlying) - Conversion
Series F Preferred Stock
[F4][F3]2026-05-11−3,039,860→ 0 total(indirect: See Footnote)→ Common Stock (872,770 underlying)
Footnotes (5)
- [F1]The Convertible Notes automatically converted into Common Stock immediately prior to the closing of the Issuer's initial public offering (the "Offering"). The conversion price is the lower of (a) 80% of the Offering price per share and (b) the valuation of the Issuer immediately prior to the closing of the Offering divided by the number of fully diluted shares of capital stock (on an as-converted basis) outstanding immediately prior to Offering, excluding the Convertible Notes.
- [F2]The securities are held by Osage University Partners III, LP ("OUP III"). Osage University GP III, LLC ("OUP III GP") is the general partner of OUP III. William Harrington ("Mr. Harrington"), a member of the Issuer's board of directors, Robert Adelson and Marc Singer are the managers of OUP III GP (the "OUP III GP Managers"). Each of the OUP III GP Managers may be deemed to share voting and dispositive power over the shares held by OUP III. Each of OUP III GP and the OUP III GP Managers disclaims beneficial ownership over the securities held by OUP III, except to the extent of their pecuniary interests therein, if any.
- [F3]The securities are held by Osage University Partners IV, LP ("OUP IV"). Osage University GP IV, LLC ("OUP IV GP") is the general partner of OUP IV. Mr. Harrington, a member of the Issuer's board of directors, Robert Adelson, Marc Singer and Matthew Cohen are the managers of OUP IV GP (the "OUP IV GP Managers"). Each of the OUP IV GP Managers may be deemed to share voting and dispositive power over the shares held by OUP IV. Each of OUP IV GP and the OUP IV GP Managers disclaims beneficial ownership over the securities held by OUP IV, except to the extent of their pecuniary interests therein, if any.
- [F4]Each share of the Series F Preferred Stock and Series E-2 Preferred Stock converted into Common Stock immediately prior to the completion of the Offering pursuant to its terms.
- [F5]This transaction occurred prior to the Issuer's registration of a class of equity securities under Section 12 of the Securities Exchange Act of 1934, as amended, in connection with the Offering, and is reported herein pursuant to Rule 16a-2(a).