Borisy Alexis 4

What Happened

• Director Alexis Borisy reported conversion of derivative securities into common stock, receiving two allotments: 105,414 shares and 162,221 shares, for a total of 267,635 shares. The Form 4 lists the transaction code as C (conversion) and shows no purchase price (N/A), indicating shares were received by conversion rather than an open‑market purchase.

Key Details

• Transaction date: 2026-06-11; Form 4 filed: 2026-06-15 (filed within the normal two-business-day window).
• Shares received: 105,414 and 162,221 (total 267,635). Price per share: N/A; total dollar value: not reported.
• Footnote: F1 — Each share of Series F Preferred was convertible into common stock on a 1 to 0.6498 basis and was automatically converted immediately prior to the issuer’s IPO closing on June 9, 2026. The Preferred Stock had no expiration date.
• Shares owned after the transaction: not disclosed in the provided filing excerpt.

Context

• This was a conversion of preferred stock into common stock (not a cash purchase or sale). Per the footnote, the conversions were tied to the company’s IPO process (automatic conversion of Series F preferred into common immediately before the IPO). Conversions like this are typically routine corporate actions related to capitalization changes rather than directional insider buying or selling.