HARRINGTON WILLIAM T 4
4 · Mobia Medical, Inc. · Filed May 11, 2026
Research Summary
AI-generated summary of this filing
Mobia (MOBI) 10% Owner William Harrington Buys 533,333 Shares ($8M)
What Happened
William T. Harrington (reported as a 10% owner) made two open‑market purchases on 2026-05-11 totaling 533,333 shares at $15.00 per share (266,666 shares for $3,999,990 and 266,667 shares for $4,000,005), for aggregate cash paid of $7,999,995. The filing also shows multiple conversions of derivative securities into common stock (large blocks of shares acquired and disposed on 2026-05-11) and earlier derivative awards recorded on 2026-01-30 that were later converted. Additionally, a stock option/award for 31,520 shares was granted on 2026-05-07 (recorded as $0; footnote indicates a three‑year vesting schedule).
Key Details
- Filing date: 2026-05-11; reported transactions dated 2026-01-30, 2026-05-07 and 2026-05-11. (Note: the Jan 30 award was included in this May filing and therefore appears reported well after the usual two‑business‑day Form 4 deadline.)
- Open‑market purchases: 266,666 shares @ $15.00 (cost $3,999,990) and 266,667 shares @ $15.00 (cost $4,000,005); total cash outlay $7,999,995.
- Multiple derivative conversions: several large blocks of derivative securities (convertible notes/preferred) converted into common stock on or immediately prior to the issuer’s IPO per the filing footnotes (see F1 and F4 for conversion mechanics).
- Grant: 31,520‑share option/award on 2026-05-07; footnote F6 — vests in three substantially equal annual installments.
- Post‑transaction beneficial ownership: not specified in the filing for a single net total.
- Ownership/attribution notes: some securities are held by Osage University Partners III and IV (OUP III / OUP IV). Harrington is a manager of the GPs and may be deemed to share voting/dispositive power (F2, F3); he disclaims beneficial ownership except for any pecuniary interest.
Context
- The derivative conversions appear tied to pre‑IPO convertible notes and preferred‑stock conversions into common stock immediately prior to the IPO (F1 and F4). That’s a technical capitalization/IPO conversion event rather than a typical “exercise and sell” or open‑market sale.
- The cash purchases at $15 are straightforward open‑market buys — purchases are often viewed as a stronger signal to retail investors than routine sales, though conversions and pre‑IPO mechanics should be interpreted as corporate recapitalization steps.
- Because some shares are held through Osage funds and Harrington is a GP manager, some holdings reflect institutional fund ownership rather than purely personal trading.
Insider Transaction Report
Form 4
HARRINGTON WILLIAM T
Director10% Owner
Transactions
- Conversion
Common Stock
[F1][F2]2026-05-11+284,324→ 284,324 total(indirect: See Footnote) - Conversion
Common Stock
[F1][F3]2026-05-11+264,746→ 264,746 total(indirect: See Footnote) - Conversion
Common Stock
[F4][F2]2026-05-11+1,455,726→ 1,740,050 total(indirect: See Footnote) - Conversion
Common Stock
[F4][F3]2026-05-11+872,770→ 1,137,516 total(indirect: See Footnote) - Purchase
Common Stock
[F2]2026-05-11$15.00/sh+266,666$3,999,990→ 2,006,716 total(indirect: See Footnote) - Purchase
Common Stock
[F3]2026-05-11$15.00/sh+266,667$4,000,005→ 1,404,183 total(indirect: See Footnote) - Award
Convertible Notes
[F1][F5][F2]2026-01-30$3411892.25/sh+3,411,892.25$11,641,008,725,610→ 3,411,892.25 total(indirect: See Footnote)→ Common Stock (284,324 underlying) - Award
Convertible Notes
[F3][F5][F1]2026-01-30$3176955.03/sh+3,176,955.03$10,093,043,262,642→ 3,176,955.03 total(indirect: See Footnote)→ Common Stock (264,746 underlying) - Award
Stock Option
[F6]2026-05-07+31,520→ 31,520 totalExercise: $15.00Exp: 2036-05-07→ Common Stock (31,520 underlying) - Conversion
Convertible Notes
[F1][F2]2026-05-11−3,411,892.25→ 0 total(indirect: See Footnote)→ Common Stock (284,324 underlying) - Conversion
Convertible Notes
[F1][F3]2026-05-11−3,176,955.03→ 0 total(indirect: See Footnote)→ Common Stock (264,746 underlying) - Conversion
Series E-2 Preferred Stock
[F4][F2]2026-05-11−3,930,352→ 0 total(indirect: See Footnote)→ Common Stock (1,128,438 underlying) - Conversion
Series F Preferred Stock
[F4][F2]2026-05-11−1,139,946→ 0 total(indirect: See Footnote)→ Common Stock (327,288 underlying) - Conversion
Series F Preferred Stock
[F4][F3]2026-05-11−3,039,860→ 0 total(indirect: See Footnote)→ Common Stock (872,770 underlying)
Footnotes (6)
- [F1]The Convertible Notes automatically converted into Common Stock immediately prior to the closing of the Issuer's initial public offering (the "Offering"). The conversion price is the lower of (a) 80% of the Offering price per share and (b) the valuation of the Issuer immediately prior to the closing of the Offering divided by the number of fully diluted shares of capital stock (on an as-converted basis) outstanding immediately prior to Offering, excluding the Convertible Notes.
- [F2]The securities are held by Osage University Partners III, LP ("OUP III"). Osage University GP III, LLC ("OUP III GP") is the general partner of OUP III. The Reporting Person is a manager of OUP III GP and may be deemed to share voting and dispositive power over the shares held by OUP III. Each of OUP III GP and the Reporting Person disclaims beneficial ownership over the securities held by OUP III, except to the extent of their pecuniary interests therein, if any.
- [F3]The securities are held by Osage University Partners IV, LP ("OUP IV"). Osage University GP IV, LLC ("OUP IV GP") is the general partner of OUP IV. The Reporting Person is a manager of OUP IV GP and may be deemed to share voting and dispositive power over the shares held by OUP IV. Each of OUP IV GP and the Reporting Person disclaims beneficial ownership over the securities held by OUP IV, except to the extent of their pecuniary interests therein, if any.
- [F4]Each share of the Series F Preferred Stock and Series E-2 Preferred Stock converted into Common Stock immediately prior to the completion of the Offering pursuant to its terms.
- [F5]This transaction occurred prior to the Issuer's registration of a class of equity securities under Section 12 of the Securities Exchange Act of 1934, as amended, in connection with the Offering, and is reported herein pursuant to Rule 16a-2(a).
- [F6]The stock option will vest in three substantially equal installments on the first three anniversaries of the grant date.
Signature
/s/ Chase Leavitt, Attorney-in-Fact|2026-05-11