Blumberg Richard P. 4

What Happened

• Richard P. Blumberg, a reported 10% owner of Guided Therapeutics, exercised 1,000,000 warrants at $0.20 per share by paying $200,000 (reported Feb 25, 2026). He also converted preferred stock into common stock and received several share issuances tied to accrued dividends and an equity award.
• Conversions on March 26, 2026 converted 260 shares of Series F preferred into 1,040,000 common shares and 88 shares of Series F-2 preferred into 352,000 common shares (conversion price $0.25). Additional share issuances of 56,093 and 19,038 common shares were issued as payment of accrued dividends (conversion price $0.2773). An equity award vested such that 110,000 shares were acquired (one-fourth vested March 10, 2026; remainder vests through 2029).
• Separately, 900,000 warrants with a $0.30 exercise price expired unexercised on March 1, 2026, and one set of 1,000,000 warrants with a $0.65 exercise price had its expiration extended to Sept 1, 2027 as part of an exchange agreement.

Key Details

• Primary dates and amounts:
  • Feb 25, 2026: Exchanged warrants and exercised 1,000,000 warrants at $0.20 each; cash paid = $200,000 (F1).
  • Mar 1, 2026: 900,000 warrants at $0.30 expired unexercised (F2).
  • Mar 10, 2026: 110,000 shares vested from an award (one‑quarter vested; remainder vests monthly to Mar 10, 2029) (F3).
  • Mar 26, 2026: Converted 260 Series F into 1,040,000 common and 88 Series F‑2 into 352,000 common; also received 56,093 and 19,038 shares for accrued dividends (F4–F7).
• Total common shares received from these conversions (reported in filing): 1,392,000 (from Series F and F‑2 conversions) plus 1,000,000 from the exercised warrants and other smaller issuances/awards.
• Shares owned after the transactions: not specified in the filing.
• Notable footnotes: exchange agreement swapped warrants to lower strikes (and triggered immediate exercise), extension of some warrants' expiration to Sept 1, 2027, and dividend conversions at $0.2773; conversions used a $0.25 conversion price for stated-value preferred (see F1–F7).
• Filing date: May 5, 2026 (the report covers transactions from Feb–Mar 2026). The filing does not indicate a late-filing designation.

Context

• These were primarily derivative exercises and conversions (not open-market buys/sells). Blumberg paid cash ($200K) to exercise warrants rather than a cashless exercise.
• Conversions of preferred into large blocks of common stock increase his common shares outstanding and can be dilutive to other holders; such conversions are common when preferred shares convert at set rates/prices.
• As a reported 10% owner (not an unaffiliated retail executive), these moves reflect changes to his ownership structure via derivative exercises and preferred conversions rather than routine small purchases or sales.