Durso Timothy August 4
4 · Veradermics, Inc · Filed Feb 5, 2026
Research Summary
AI-generated summary of this filing
Veradermics (MANE) CTO Timothy Durso Receives Award, Converts Preferred
What Happened
Timothy Durso, Chief Technical Officer of Veradermics (MANE), recorded two related insider events: a grant of 213,352 derivative shares (reported as an award/acquisition at $0.00) on Feb 3, 2026, and on Feb 5, 2026 a conversion of Series A Convertible Preferred Stock into common stock (the filing shows 1,473 shares converted). The award had no cash purchase price (reported $0) and the preferred-to-common conversion occurred automatically immediately prior to the company’s IPO with no cash exchanged.
Key Details
- Transaction dates: Award reported for period ending Feb 3, 2026 (filed Feb 5, 2026); conversion reported Feb 5, 2026.
- Prices: Award reported at $0.00 (no cash paid); conversion reported as N/A (automatic, no cash).
- Shares after transaction: The filing excerpt provided does not state Durso’s total post-transaction common-share holdings.
- Notable footnotes:
- F1: Series A preferred automatically converted into common stock on a 10.067-for-1 basis immediately prior to the IPO; no payment required.
- F2: Some shares are held in a trust for the reporting person’s children (spouse is trustee); the reporting person disclaims beneficial ownership of those trust-held shares.
- F3: The 213,352 award is a derivative subject to vesting: 25% vests on Feb 3, 2027, then monthly over the next 36 months, subject to continued service.
- Timeliness: Report was filed Feb 5, 2026 for transactions around Feb 3–5, 2026; no late-filing indication is noted in the excerpt.
Context and plain-language explanation
- The conversion entries reflect the automatic corporate conversion of preferred shares into common stock ahead of the IPO — the preferred position was converted (disposed of as preferred) and common shares were recorded as acquired, with no cash changing hands.
- The 213,352 award is a derivative grant (likely options or restricted units) that vests over time; it is not an immediate open-market purchase or sale. Grants and conversions like these are common around IPOs and corporate restructurings and are not direct indicators of an insider buying or selling stock on the open market.
Insider Transaction Report
Form 4
Veradermics, IncMANE
Durso Timothy August
Chief Technical Officer
Transactions
- Conversion
Common Stock
[F1]2026-02-05+1,473→ 118,190 total - Conversion
Series A Convertible Preferred Stock
[F1]2026-02-05−1,473→ 0 total→ Common Stock (1,473 underlying) - Award
Stock Option (Right to Buy)
[F3]2026-02-03+213,352→ 213,352 totalExercise: $17.00Exp: 2036-02-03→ Common Stock (213,352 underlying)
Holdings
- 116,717(indirect: By Trust)
Common Stock
[F2]
Footnotes (3)
- [F1]On February 5, 2026, the shares of Series A Convertible Preferred Stock automatically converted into shares of the Issuer's common stock, par value $0.00001 per share (the "Common Stock"), on a 10.067-for-1 basis without payment of further consideration immediately prior to the closing of the Issuer's initial public offering. The shares have no expiration date.
- [F2]These shares are held in a trust for the benefit of the reporting person's children. The reporting person's spouse is trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
- [F3]The option vests as to 25% of the underlying shares of Common Stock on February 3, 2027, the first anniversary of the vesting commencement date, and as to the remaining shares, in equal monthly installments over 36 months thereafter, subject to continued service.
Signature
/s/ Michael Greco, Attorney-in-Fact|2026-02-05