Guardian (GRDN) 10% Owner Thomas Salentine Converts 6.1M Shares

What Happened
Thomas J. Salentine Jr., a 10% owner of Guardian Pharmacy Services, reported a conversion (Form 4 code M) on September 27, 2026. The filing shows 6,100,175 shares were acquired and the same number were disposed as a derivative — this reflects an automatic one-for-one conversion of the Reporting Person’s Class B common stock into Class A common stock per the company’s amended certificate of incorporation. No purchase price or cash changed hands.

Key Details

• Transaction date: 2026-09-27 (reported on Form 4 filed 2026-09-28) — timely filing.
• Transaction type/code: M (exercise/conversion of a derivative) — recorded as both acquired and disposed to reflect conversion.
• Shares involved: 6,100,175 shares converted (1-for-1 Class B → Class A). Price: N/A (no cash transaction).
• Shares owned after transaction: not specified in the filing.
• Footnote: Conversion occurred pursuant to Guardian’s Amended and Restated Certificate of Incorporation (automatic one-for-one conversion).

Context
This was a corporate-structural conversion by a 10% holder, not an open-market buy or sale; it doesn’t by itself signal buying or selling intent. For retail investors, purchases are typically more informative about insider sentiment; here the filing documents a reclassification of share class rather than a trade.