Dawson Christopher 4
4 · Matternet, Inc. · Filed May 27, 2026
Research Summary
AI-generated summary of this filing
Matternet Director Dawson Christopher Receives Option Awards
What Happened Dawson Christopher, a director of Matternet, Inc., was credited with option awards on 2026-05-22 that cover a total of 531,591 underlying shares (83,205 and 448,386). The Form 4 reports these as derivative awards at $0.00 because they represent assumed/converted options received in connection with the issuer’s merger with Legacy Matternet. The exercise price for the converted options was adjusted per the merger conversion ratio (see footnote).
Key Details
- Transaction date: 2026-05-22; reported on Form 4 filed 2026-05-27 (filed late relative to the 2-business-day Form 4 deadline).
- Reported amounts: 83,205 and 448,386 option shares (total 531,591) — recorded as derivative awards (code A).
- Price shown: $0.00 on Form 4 (reflects grant/assumption of options rather than a cash purchase).
- Footnote summary:
- F1: Options were assumed and converted from Legacy Matternet options per the Merger Agreement; conversion ratio = 2.0801, and exercise price per share was adjusted by dividing the original price by the conversion ratio.
- F2: Converted options vest in 48 equal monthly installments from the vesting commencement date.
- Shares owned after the transaction: not specified in the filing.
Context These transactions reflect conversion/assumption of preexisting Legacy Matternet options into options of the combined issuer as part of the merger, not an open-market purchase or sale. Because these are derivative option awards (with multi-year vesting), they do not represent immediate stock purchases and should not be interpreted as an immediate bullish purchase signal. The late filing means the market received the disclosure after the 2-business-day Form 4 window.
Insider Transaction Report
- Award
Director Stock Option (right to buy)
[F1][F2]2026-05-22+83,205→ 83,205 totalExp: 2029-07-22→ Common Stock (83,205 underlying) - Award
Director Stock Option (right to buy)
[F1][F2]2026-05-22+448,386→ 448,386 totalExp: 2034-03-25→ Common Stock (448,386 underlying)
Footnotes (2)
- [F1]Received in connection with the Issuer's merger (the "Merger") with Matternet, Inc. ("Legacy Matternet") in accordance with the terms of the Agreement and Plan of Merger and Reorganization dated as of May 22, 2026, by and among the Issuer (f/k/a Los Altos Ventures Corp.), Matternet Acquisition Co. and Legacy Matternet (the "Merger Agreement"), in exchange for options of Legacy Matternet. Each vested and unvested option to purchase shares of common stock of Legacy Matternet outstanding immediately prior to the effective time of the Merger was assumed by the Issuer and converted into an option to purchase shares of common stock equal to the product of (a) the number of shares of common stock subject to such option immediately prior to the effective time of the Merger and (b) 2.0801 (the "Conversion Ratio"), at an exercise price per share equal to (i) the exercise price per share of such option immediately prior to the effective time of the Merger divided by (ii) the Conversion Ratio.
- [F2]The shares subject to the option shall become vested and exercisable in 48 equal monthly installments from the vesting commencement date.