Bailey Gregory 4

What Happened
Bailey Gregory, a director of Serina Therapeutics (SER), received common stock on June 17, 2026 through conversions and awards of previously held derivative securities. The Form 4 shows: acquisition of 1,770,805 shares (reported at $2.25, $3,984,311) and 6,666,667 shares (reported at $2.25, $14,999,334), grants/derivative awards of 15,250 and 3,333,333 shares (issued at $0.00), and a conversion/disposition of 762,548 shares of Series A convertible preferred (reported at $2.25, $1,715,733). Net result: a net increase of 11,023,507 common shares (total acquired 11,786,055 minus 762,548 surrendered). The Form 4 reports the shares at a conversion price of $2.25 (total reported value of acquired common shares ≈ $18.98M).

Key Details

• Transaction date: June 17, 2026 (Form filed June 22, 2026 — appears late under the 2-business-day Form 4 rule).
• Reported transfers: acquired 1,770,805 @ $2.25 ($3,984,311); acquired 6,666,667 @ $2.25 ($14,999,334); acquired 15,250 and 3,333,333 @ $0.00 (derivative awards); disposed/surrendered 762,548 Series A preferred @ $2.25 ($1,715,733) as part of conversion.
• Net change: +11,023,507 common shares. Reported acquisition value (at $2.25) ≈ $18.98M.
• Footnotes of note:
  • F1: Mandatory conversion of Series A Convertible Preferred into common stock (preferred converted into 1,755,555 common + 15,250 dividend shares); conversion triggered upon stockholder approval on June 17, 2026.
  • F3/F5: Pre‑funded warrants were issued/purchased (Securities Purchase Agreement, Mar 17, 2026) at ~$2.2499 per pre‑funded warrant; some warrants include customary beneficial‑ownership limits and a potential company call provision.
  • F4: Related stock options referenced will vest by the earlier of the next annual meeting or one year from grant, subject to continued service.
  • F6: Series A Preferred is perpetual (no expiration).
• Shares owned after the transaction: the filing states beneficial ownership was updated (see F2); the exact post‑transaction total is reflected in the Form 4 filing but not restated here.

Context

• This was not an open‑market purchase or sale: the activity reflects conversion of previously held derivative securities (Series A preferred and pre‑funded warrants) into common shares and issuance of certain derivative awards. Pre‑funded warrants are typically paid for at purchase; conversion/issuance here followed shareholder approval and automatic conversion mechanics under NYSE American rules.
• The “disposed” entry relates to surrender/conversion of preferred shares into common stock, not a public sale for cash.
• Conversions/awards do not necessarily indicate new bullish buying in the market — they document the structural change of derivative securities into common stock or the issuance of awards.