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Azitra, Inc.·4

Mar 20, 4:30 PM ET

Salva Francisco D. 4

Research Summary

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Azitra (AZTR) CEO Salva Acquires Preferred Shares

What Happened
Salva Francisco D., President & CEO and a director of Azitra, reported purchasing 500 shares of Series A Preferred Stock on March 18, 2026. Each Series A preferred share converts into 8,128.1 shares of common stock (subject to approvals and an amendment to the charter), so the filing also shows derivative reporting of 4,064,050 common shares (two identical derivative entries appear in the filing). The reported purchase price is N/A in the filing.

Key Details

  • Transaction date: 2026-03-18; Form 4 filed: 2026-03-20 (appears within the standard two-business-day reporting window).
  • Securities acquired: 500 shares of Series A Preferred Stock (stated value $1,000.00 per share). Filing also lists two derivative entries of 4,064,050 shares of Common Stock (500 × 8,128.1).
  • Price: N/A (not disclosed in the filing).
  • Shares owned after transaction: Not specified in the provided filing excerpt.
  • Relevant footnotes:
    • F1: Series A preferred converts into 8,128.1 common shares per preferred, conversion effective only after shareholder approvals and a charter amendment; Series A has no expiration date.
    • F2/F3: The filing also notes Series B and C warrants are exercisable only upon stockholder approval and have defined termination windows (Series B: 18 months after approval; Series C: generally 30 days after certain public data announcements).
  • Filing timeliness: No late-report flag shown; Form 4 was filed two days after the transaction date.

Context
This transaction is a purchase of convertible preferred stock, which is reported as both the preferred security and its potential common-stock equivalent (derivative). Conversion into common shares is subject to shareholder approvals and procedural conditions, so the common-share equivalent may not be immediately issued. Purchases by company insiders can be interpreted by investors as a positive signal, but the conversion conditions and lack of disclosed price mean this report alone does not establish immediate common-share ownership or the economic cost.