Durso Timothy August 4

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.