Ratcliffe Liam 4

What Happened

• Liam Ratcliffe, a director of Upstream Bio, was granted derivative securities covering 17,096 shares on 2026-06-09. The reported acquisition price is $0.00 (award/grant of derivatives), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-06-09; Form 4 filed: 2026-06-11 (appears timely).
• Amount: 17,096 shares (derivative award); reported price: $0.00.
• Shares owned after transaction: not disclosed in the provided filing excerpt.
• Footnote: The shares underlying this option vest in full upon the earlier of (i) June 9, 2027 or (ii) the date of the next Annual Meeting of Stockholders, subject to Ratcliffe’s continued service on the vesting date.
• Accession: 0001193125-26-268165.

Context

• This was a compensation-related award (derivative grant) rather than a market purchase or sale. Such awards typically reflect board/service compensation and vest over time; they do not indicate an immediate sale or investment decision by the insider.