GPG JCT, LLC 4

What Happened

• Green Park & Golf Ventures II, LLC (a reported 10% owner / managing member of several GPG entities) reported a series of derivative transactions tied to Mobia Medical (MOBI) on transactions dated May 11, 2026 (Form 4 filed June 29, 2026). The filing shows multiple conversions of preferred securities and convertible notes and several exercises of in‑the‑money derivatives that resulted in the acquisition of 1,216,402 shares of common stock and the disposition of 4,877,291 shares. No per‑share prices are reported in the Form 4 (N/A), so dollar values are not provided. Net change across these entries is a reduction of 3,660,889 shares.
• The filing also reflects a cashless exercise outcome: RM paid an exercise price on a cashless basis, the issuer withheld 6,731 shares to satisfy the exercise price, and 159 shares were issued to the reporting person (see footnote F11).

Key Details

• Transaction date: May 11, 2026. Form 4 filed: June 29, 2026.
• Totals from this filing: Acquired (via conversions/exercises) = 1,216,402 shares; Disposed (conversions/exercises/sale/withholding) = 4,877,291 shares; Net = -3,660,889 shares.
• Prices / dollar values: Not reported (N/A) for the conversions and exercises in this filing.
• Shares owned after transaction: Not specified in the data provided in this summary.
• Notable footnotes:
  • F1/F3: Multiple preferred shares and convertible notes converted into common stock immediately prior to the issuer’s IPO; convertible note conversion price set by formula (lower of 80% of offering price or valuation-based calculation).
  • F7: Some common stock issuance tied to exercise of warrants for Series D Preferred (warrant exercise price $4.207; expiration May 25, 2033).
  • F10: GPG Ventures II is managing member of several entities; three named managers share voting/dispositive power and may be deemed beneficial owners.
  • F11: Cashless exercise withholding of 6,731 shares to pay exercise price; 159 shares issued to reporting person.
• Filing context: This Form 4 is the second of five filings reporting related transactions across multiple related GPG reporting persons.

Context

• Many entries are conversions of preferred stock, warrants or convertible notes into common stock (corporate/IPO mechanics) rather than open‑market purchases or routine insider trades. Conversions and exercises tied to an IPO or note conversions often show N/A prices because they occur under pre‑existing terms or formulaic conversion mechanics.
• The reporting entity is a 10% institutional owner/manager of several affiliates (not an individual executive); these movements likely reflect institutional conversion and allocation activity across related entities rather than a simple buy/sell decision by an individual insider.