Venkatesan Jay 4

What Happened

• Venkatesan Jay, a director of Serina Therapeutics (SER), completed a mandatory conversion of Series A Convertible Preferred Stock into common shares and made a small open‑market purchase. He acquired 224,152 common shares via conversion (priced at $2.25, value $504,342) and bought 589 common shares on the open market on 2026-05-22 at $1.78 ($1,048). The filing also reports a 15,250‑share derivative award (no cash paid) and the disposition/surrender of 96,525 Series A preferred shares as part of the conversion process (valued at $217,181 on a $2.25 basis).

Key Details

• Transaction dates and prices:
  • 2026-05-22: Open‑market purchase (P) — 589 shares @ $1.78 = $1,048.
  • 2026-06-17: Conversion of derivative security (C) — acquired 224,152 common shares @ $2.25 = $504,342.
  • 2026-06-17: Conversion of derivative security (C) — disposed/surrendered 96,525 Series A preferred shares @ $2.25 = $217,181 (derivative).
  • 2026-06-17: Grant/award (A) — 15,250 derivative shares (no cash paid); subject to vesting terms.
• Footnotes of note:
  • F2: The conversion was triggered upon shareholder approval on June 17, 2026; the Series A preferred converted into common stock at an adjusted conversion price of $2.25.
  • F1: The filing corrects a prior Form 4 administrative error about direct vs indirect ownership.
  • F3: The 15,250 derivative award vests on the earlier of the day before the next annual meeting or one year after grant, subject to continued service.
  • F4: The Series A preferred is perpetual (no expiration).
• Shares owned after the transactions are not explicitly detailed in this filing; the report also corrects a prior ownership reporting error.
• Timeliness: The Form 4 was filed 2026-06-22 covering transactions dated 2026-05-22 and 2026-06-17. The reporting appears late relative to the usual 2‑business‑day Form 4 deadline.

Context

• The large activity on June 17 was an automatic conversion of preferred shares into common shares after shareholder approval, not a market purchase — it increases common‑share holdings but is a recapitalization event rather than a personal buy/sell decision. The small May 22 open‑market buy (~$1k) is a modest insider purchase. The 15,250‑share award is a derivative grant with a vesting schedule; it does not reflect an immediate market sale.