GIANAKAKOS ANASTASIOS 4

What Happened

• Anastasios Gianakakos, President & CEO and a director of Kardigan (KARD), reported conversions of derivative securities into common stock on June 17, 2026. The filing shows three conversion-acquisitions totaling 568,395 shares (28,702; 41,001; 498,692) and three conversion-disposals totaling 356,854 shares (18,020; 25,742; 313,092). No per-share price or cash changed hands (reported as N/A) because the transactions resulted from automatic conversion of Preferred Stock upon effectiveness of the company’s Form S-1 (IPO) on June 17, 2026.
• Net result from these entries: a gain of 211,541 common shares (568,395 acquired less 356,854 disposed). The filing does not report dollar values or a sale-for-cash — these were conversions, not open-market purchases or sales.

Key Details

• Transaction date: June 17, 2026. Filing date: June 22, 2026 (filing flagged late).
• Transaction type/code: C = conversion of derivative security (automatic conversion of Series A & B Preferred).
• Conversion details: Footnote F1 — each share of Series A and B Preferred converted on a 1.5928-for-1 basis into common stock upon the S-1 effectiveness; automatic and without payment of consideration.
• Shares owned after transaction: not specified in the filing. Several footnotes (F2–F6) state shares are held in various trusts (AEG 2021 Trust, KCM 2023 Trust, Katina Mandas 2024 QAT, MJA Legacy Trust) and the reporting person disclaims beneficial ownership of those trust-held shares except to the extent of any pecuniary interest.
• Timeliness: The Form 4 was filed 5 days after the transaction date and is marked late (transactionTimeliness = 'L').

Context

• These were conversions of preferred shares into common stock tied to the company’s IPO registration becoming effective; no cash exercise or open-market sale is shown. Conversions like this are routine in IPOs when convertible preferred stock automatically converts into common stock and do not by themselves indicate buying or selling sentiment.