Guardian Pharmacy (GRDN) 10% Owner Bindley Capital Converts 6.1M Shares

What Happened

• Bindley Capital Partners I, LLC (reported as a 10% owner) converted/exercised derivative holdings into 6,100,175 shares of Guardian Pharmacy Services, Inc. (GRDN) on September 27, 2026. The Form 4 shows both an acquisition and a matching disposition of 6,100,175 shares (derivative), with no purchase price reported (N/A).
• Footnote F1 clarifies this was an automatic one-for-one conversion of Class B common stock into Class A common stock under the company’s Amended and Restated Certificate of Incorporation. There is no cash reported as exchanged in this transaction.

Key Details

• Transaction date: 2026-09-27; Form 4 filed: 2026-09-28 (appears timely).
• Shares converted/exercised: 6,100,175 shares (acquired and disposed entries both listed as derivative, code M).
• Price: N/A (automatic conversion; no cash price reported).
• Shares owned after transaction: not specified in the filing.
• Footnote: F1 — automatic one-for-one conversion of Class B to Class A on 9/27/2026.
• Insider status: Bindley is a 10% institutional owner, not an executive — institutional filing, not an executive buy/sell.

Context

• This was a conversion of share class (derivative conversion/option exercise type), not an open-market buy or sale. Such corporate conversions typically do not reflect trading sentiment the way purchases or disposals in the market do.
• Because the conversion was automatic and reported with N/A for price, there was no cash transaction to indicate a bullish or bearish signal.