Guardian Pharmacy (GRDN) SVP David Norman Converts Class B Shares

What Happened David Norman, Senior Vice President, Technology, Data & Senior Security Officer of Guardian Pharmacy Services, reported a conversion-type derivative transaction on September 27, 2026. The filing shows 39,865 shares listed as both disposed and acquired under transaction code M (exercise/conversion). No price or cash value is reported (N/A).

Key Details

• Transaction date: 2026-09-27; Form 4 filed: 2026-09-28 (filed one day after the event; appears timely).
• Reported amounts: 39,865 shares disposed and 39,865 shares acquired (price: N/A).
• Shares owned after transaction: not stated in the provided excerpt — see the full Form 4 for post-transaction ownership totals.
• Footnote F1: Per the company’s Amended and Restated Certificate of Incorporation, the Reporting Person’s Class B common stock automatically converted into Class A common stock on a one-for-one basis on September 27, 2026.
• Transaction code M indicates an exercise or conversion of a derivative instrument.

Context This was an automatic class conversion (Class B → Class A) rather than an open-market buy or sale. The Form 4 records the disposal of Class B shares and acquisition of Class A shares for the same amount to reflect the conversion; there was no cash exchange reported. Such corporate-conversion filings are generally routine and do not, by themselves, indicate a change in the insider’s market view. For full ownership details and context, consult the complete SEC Form 4 (Accession 0001193125-26-405524).